The State government is finalising an action plan to encourage biotechnology in a big way by setting up a mega life science park in Visakhapatnam and mini life science parks at Kakinada, Anantapur and Guntur or Chittoor.
The parks will facilitate incubation centres, R&D labs with focus on stem cell research, disease-diagnosis, value-added fish, horticultural and pharmaceutical products as part of new biotechnology policy.
PPP mode
According to GO Ms. No. 33 dated April 29, 2015, the parks will be developed under public private partnership mode.
The mega life science park in Visakhapatnam will be located in 200 acres.
“A suitable land for the project will be identified soon,” a senior official of APIIC told The Hindu .
It will create job opportunities for those specialising in biotechnology, food technology, agriculture, horticulture, pharmacy, marine sciences and nano technology.
The park will have plug and play lab space of at least 50,000 sq. ft.
The policy promises 25 per cent subsidy on lease rentals for plug and play lab space up to 5,000 sq. ft. for startups subject to a limit of Rs.5 lakh per annum.
Multi-tenant lab facilities
The parks will also have multi-tenant lab facilities, to seek partnerships from private players for common use, incubation and skill development.
The land for the parks will be offered on lease or as government’s equity.
The mini parks will have minimum of 10 units. It will take three years to develop mini parks.
Assistance for infra
The government will give financial assistance for critical external infrastructure such as roads, waste management and testing facilities on a case-to-case basis.
Incentives
The policy envisages fiscal incentives to entrepreneurs which include power cost reimbursement up to Rs.1.50 per unit for five years, interest subsidy of three per cent per annum on term loans towards purchase of capital equipment for five years subject to Rs.3 lakh per year for MSME, create database and technology acquisition fund.
“The parks will give a big fillip to promotion of agro-based products,” said DIC General Manager and Joint Director of Industries L. Laxman.
