Pharma incubators at state-owned research institutions soon
HYDERABAD: India is actively looking at setting-up incubators at state-owned research institutions to encourage drug manufacturers to collaborate with research institutions for joint research and innovation, said a senior bureaucrat of the Union commerce ministry.
Disclosing this at BIO Asia International 2017 in Hyderabad on Wednesday, Union commerce joint secretary Sudhanshu Pandey, also said that the Union government plans to set-up a venture-capital fund to encourage investments into pharmaceuticals sector.
"The government will allow the pharma companies to use the premises of Indian Institute of Chemical Technology (IICT) to set up their incubator or construct a new one, apart from collaborating on developing products according to the requirement of the masses," said Pandey, adding that 7-8 drug firms have already approached the government evincing their interest for collaboration with central research institutions.
Though a proposal on the venture-capital fund was pending with the government for the past few years, success of similar initiatives of late have led to a revival of the idea. "The success of Skill India and similar initiatives have made the environment conducive for setting this venture capital fund," said Pandey.
The government proposes to encourage collaboration of drug companies with research institutions beginning with IICT to expand it to other Council of Scientific and Industrial Research (CSIR) institutions.
Disclosing this at BIO Asia International 2017 in Hyderabad on Wednesday, Union commerce joint secretary Sudhanshu Pandey, also said that the Union government plans to set-up a venture-capital fund to encourage investments into pharmaceuticals sector.
"The government will allow the pharma companies to use the premises of Indian Institute of Chemical Technology (IICT) to set up their incubator or construct a new one, apart from collaborating on developing products according to the requirement of the masses," said Pandey, adding that 7-8 drug firms have already approached the government evincing their interest for collaboration with central research institutions.
Though a proposal on the venture-capital fund was pending with the government for the past few years, success of similar initiatives of late have led to a revival of the idea. "The success of Skill India and similar initiatives have made the environment conducive for setting this venture capital fund," said Pandey.
The government proposes to encourage collaboration of drug companies with research institutions beginning with IICT to expand it to other Council of Scientific and Industrial Research (CSIR) institutions.
