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An incubation centre for biotechnology start-ups is to be set up at the CSIR-Centre for Cellular and Molecular Biology in Hyderabad.
To be supported by the NITI Aayog, it will create facilities and bring in stakeholders to ensure the success of innovative ideas.
The CCMB is one of the 10 organisations identified to host the ‘Atal Incubation Centre', according to Rakesh Mishra, its Director. Under this, the government will release funds of Rs 10 crore in the coming five years.
The Centre has set up the Atal Incubation Centre in the NITI Aayog to promote a culture of innovation and entrepreneurship.
He felt that the support from the NITI Aayog has come at an opportune time to catalyse the efforts of small start-ups in biotechnology, to mature rapidly as successful entrepreneurs.
The incubation centre would engage with all the stakeholders of a biotechnology translational journey, including intellectual property agencies, regulators, seed funders, business developers, successful businessmen and research institutions.
N. Madhusudhan Rao of CCMB said much progress had been made in developing point-of-care devices for human and non-human diseases, to capture the shifting therapy from drugs to biologics, to engage in big data analysis for precision medicine and in the area of stem cell therapy.
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