India is amongst the top 12 biotech destinations in the world and ranks third in the Asia-Pacific region and has the second highest number of USFDA–approved plants, after the USA. Increasing government expenditure will augment the growth of the sector — the government aims to spend USD 3.7 Billion on biotechnology between 2012-17. India’s biotech industry is estimated to increase to USD 11.6 billion in FY17 from USD 4.3 billion in FY12. Pharmaceuticals market, the major contributor to the biotechnology industry, is set to grow rapidly in the future. The 12th Five Year Plan aims to set up 3-5 bio-clusters with technology incubators, technology parks, innovation centers and entrepreneurship development units. Central and State governments to promote and encourage entrepreneurial ventures in biotechnology through setting up of Biotech Parks, incubators as well as pilot projects.
Gujarat is known as the Entrepreneurial hub of India. The entrepreneurial acumen can be primarily attributed to cultural traditions, values & beliefs, attitude & business orientation of the region. The landscape of Gujarat biotechnology industry consist of more than 50 biotechnology companies and 66 support organizations. With its strategic initiatives over the last ten years, Gujarat has emerged as one of the most preferred destination for investments across the globe.
The State Government of Gujarat, in its resolve and continued endeavors for socio-economic up-liftment of society, has identified Biotechnology as most potential tool for development. The State intends to promote biotechnology sector by building appropriate image, encouraging entrepreneurship, strengthening organizational colorations and forecasting business partnerships. For facilitating the development of biotechnology in the State, Government of Gujarat has constituted Gujarat State Biotechnology Mission, under the aegis of Department of Science and Technology. GSBTM acts as the enabler and facilitator for the growth of the biotechnology sector and provides an ideal platform to biotechnology companies, research institutions and entrepreneurs to operate in the frontier areas of biotechnology.
GSBTM has acknowledged the advantage of world-class infrastructure through a cluster approach, and in line with its global outlook and ideology, GSBTM has commenced to develop a state-of-the-art Biotech Park in Savli, Vadodara. GSBTM has also developed a state-of-the-art ‘Bio-Incubator’ at Savli, Vadodara. Savli Bio-Incubator is funded by the Bio-Incubator Support Scheme [BISS] of Biotechnology Industry Research Assistance Council [BIRAC] and supported by The Department of Science & Technology, Government of Gujarat.
The concept behind the incubator is also to develop bio-tech clusters by facilitating the development of bioscience enterprises in Gujarat and thereby create new jobs, investment opportunities and to support infrastructure for the benefit of society.
Powered by Froala Editor