State to set up venture fund, incubator complex for biotech startups: CM

Published - February 09, 2015 03:19 pm IST - Bengaluru:

Chief Minister Siddaramaiah. File Photo.

Chief Minister Siddaramaiah. File Photo.

With an assurance to set up a venture capital fund and an incubator complex in the city for start-ups in the biotechnology sector, Chief Minister Siddaramaiah launched the 15th edition of the Bangalore INDIA BIO here on Monday.

The three-day event will see seminars, discussions and conferences by nearly 110 speakers, with delegations from more than 15 countries participating.

Inaugurating the event, Mr. Siddaramaiah said the aim was to become a “bio-economic” centre of the world, and that the bio-policy was being tweaked to enable an environment of growth. Bengaluru already accounts for 52 per cent of all biotech companies in the country, he said.

“We have proposed to set up a centre for bio-molecular engineering, which is an emerging field. We hope the Union Government gives clearance at the earliest,” said the Chief Minister.

Similarly, Information Technology and Biotechnology Minister S.R. Patil said 12 biotechnology finishing schools – which offer a one-year programme after undergraduation – are being constructed to ensure a steady supply of “quality” professionals to the field.

While Union Environment Minister Prakash Javadekar emphasised the need to innovate, Petroleum Minister Piyush Goyal said the biotech industry should focus on soil health, preventive healthcare and water contamination in drinking water.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.