An incubation centre to support biotech start-ups will be set up at the CSIR-Centre for Cellular and Molecular Biology, Hyderabad.
To be supported by the NITI Aayog, it will create facilities and bring in stakeholders to implement innovative ideas.
The CCMB is one of the 10 organisations identified to host Atal Incubation Centres, according to Rakesh Mishra, its director. The government will release ₹10 crore under the programme in the coming five years.
The Centre has set up the Atal Innovation Mission (AIM) at NITI Aayog. The purpose of the mission is to promote a culture of innovation and entrepreneurship.
Mishra felt that the support from NITI Aayog would help small startups in biotechnology to mature rapidly as successful entrepreneurs.
The Incubation centre will engage with all stakeholders, including intellectual property agencies, regulators, seed funders, business developers, successful businessmen and research institutions.