The World Economic Forum (WEF) has chosen Hyderabad for establishing its Center for the Fourth Industrial Revolution focused on healthcare and life sciences.
The C4IR Telangana will be an autonomous, non-profit organisation and the only such of World Economic Forum in India with a thematic focus on healthcare and life sciences, Industries and IT Minister K.T. Rama Rao’s office said after Telangana government and WEF entered into a collaboration agreement at the Forum’s annual meeting in Davos, Switzerland, on Monday.
WEF managing director Jeremy Jurgens and Telangana Life Sciences Foundation CEO Shakthi Nagappan signed the agreement in the presence of Mr. Rao, who is leading a delegation from the State to the Forum’s meeting, and WEF president Borge Brende. Telangana Industries and IT Secretary Jayesh Ranjan and Head of Healthcare at the World Economic Forum Shyam Bishen were present.
“Delighted that the World Economic Forum has chosen Hyderabad as its India hub for establishing a C4IR focused on healthcare and life sciences... testament to the strong life sciences prowess of Telangana and yet another step by the government to elevate the life sciences ecosystem in Telangana and globally,” the Minister said.
Stating life sciences is one of the priority sectors in Telangana, Mr. Rao hoped the partnership to leverage on current ecosystem for further accelerating value and impact created by the State’s life sciences sector globally. Regarded as a life sciences hotspot in Asia, Telangana accounts for one-third of global vaccine output and thereby the vaccine capital of the world. Also, the State contributes to about 35% of India’s pharmaceutical production.
Mr.Brende said with the support of the Forum’s global network of Fourth Industrial Revolution centres and the backing of the State and Central governments in India, the centre will be a key player in driving stakeholder engagement, building bridges between the public sector as well as small and medium enterprises and supporting job creation in the healthcare sector.
C4IR Telangana will be the 18th centre to join WEF’s Fourth Industrial Revolution (4IR) network that spans four continents. With the centre, Telangana is poised to become an important node in the global network of 4IR centres.
The centre will facilitate, advance and accelerate development and adoption of newer technologies including genomics, personalised medicine and healthcare manufacturing, with a focus on the interplay between life sciences and technology in the region and globally. It will leverage on the strengths the State possesses such as abundant availability of talent pool, world class infrastructure and cluster-based approach besides the progressive industrial policies of the government.
Telangana is uniquely positioned to lead India’s effort of becoming a global powerhouse in healthcare. The new Centre will play an important role in transforming the regional, national and global healthcare sector and improving patient access and outcomes. It will accelerate product development and delivery innovation within the overall Indian healthcare system, said Mr. Bishen.