The government will be setting up five new bio-clusters, 50 new bio-incubators, 150 technology transfer offices and 20 bio-connect offices in research institutes and universities across India in order to support start-ups in the biotechnology sector with the initial investment of INR 100 crore each.
7 Research Parks will set up at:
- IIT Guwahati
- IIT Hyderabad
- IIT Kanpur
- IIT Kharagpur
- IISc Bangalore
- IIT Gandhinagar
- IIT Delhi
According to the most recent Startup India status report, of these seven, the park at IIT Kharagpur is already under construction.
Around Rs. 90 crore has been sanctioned to set up a research park at IIT Gandhinagar and the Department of Science and Technology has initially disbursed Rs. 40 crore. The Ministry of Human Resource Development and Department of Science and Technology are setting up other research parks at IIT Guwahati, IIT Hyderabad, IIT Kanpur, IIT Delhi and IISc Bangalore.
The government will be setting up five new bio-clusters, 50 new bio-incubators, 150 technology transfer offices and 20 bio-connect offices in research institutes and universities across India in order to support start-ups in the biotechnology sector.
The fund called BIRAC AcE Fund has been set up in partnership with National and Global Equity Funds in order to provide financial assistance to new biotech startups. The report also states that three Bio-incubators have been supported by the DBT.
The guiding principles behind the park include:
- Creating a collaborative environment between industry and academia through joint research projects and consulting assignments.
• Creating a self-sustaining and technologically fertile environment.
• Encouraging and enabling R&D activities and Startups that are aligned to potential needs of the industry.
• Providing world class infrastructure for R&D activities and incubation.
• Enabling development of high-quality personnel and motivating professional growth for researchers in companies through part-time Masters and Ph.D. Programs.
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