The Hindu Business Line : Public-pvt fund for biotech research

THE Union Department of Biotechnology (DBT) is planning to launch a separate public-private fund later this year to give a fillip to discovery-driven research enterprises in biotechnology.

"We will have a corpus, which the Planning Commission would indicate and allocate funds," the Secretary, DBT, Dr M.K. Bhan, told newspersons on the sidelines of the three-day BioAsia 2005, which began here.

The idea is to encourage early risk-taking research through initial funds. This would synergise similar ventures such as the New Millennium India Leadership Technology Initiative, being run by the Council for Scientific and Industrial Research, he said.

The public-private model was best suited in the Indian context, with funding and entrepreneurship flowing from the industry. Hence, the initiative, he said.

Dr Bhan also said three more biotech parks would be started during the year in Bangalore, Punjab and Kerala. The Lucknow biotech park would be ready for launch by end-March. Referring to the new biotech policy, Dr Bhan said in the next 2-3 months the best possible changes would be brought about to ensure the growth of the biotech industry.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Dumping probe on pentaerythritol from China, Sweden

Dumping probe initiated on SFS imports from China

Budget will pursue tax reforms: PM

Co secretaries seek tax sops in Budget for export of services

India, Lanka to set up trade negotiating panel

GoM views on SEZ legislation to be forwarded to Cabinet

ONGC in talks with SAIL to supply coal-bed methane

Insulin prices have bottomed out, says Wockhardt chief

Assocham seeks abolition of MAT

10 Indo-German collaborations likely

UK woos Indian automotive cos

Public-pvt fund for biotech research

Comdaq to launch iron ore futures facility

Govt plans to set up knowledge commission — Time to emerge as global major has come: PM

Import of sensitive items down in April-Nov 2004

Merchandise exports cross $60-b mark

`Resilience of Andaman people amazing'