Bangalore Biotech Park in 18 months

Bangalore Biotech Park in 18 months
The biotech sector targets revenues of $5 billion by 2010
Cybermedia News

BANGALORE: The much-touted Bangalore Biotech Park is slated to see the light of day in around 18 months.

Addressing a press conference here today, Dr Anup K Pujari, principal secretary to Government, department of IT, BT and Science and Technology, Government of Karnataka, said that the Biotech Park, a Rs 103 crore project covering 106 acres in Electronic city will take off in 18 months.

The first two phases of the project have been approved. These include buildings for the Institute of

Bioinformatics and Applied Biotechnology and Center for Human Genetics. An administrative building for Karnataka biotechnology and bio information technology services and a common instrumentation facility center and biotech incubation center have also been approved.

He said that the central government's department of biotechnology has sanctioned Rs 14 crore of which Rs 11 crore has been released. The tender has been offered to the lowest bidder – the National Building Construction Corporation.

Dr Pujari said that the setting up of venture capital fund for BT and IT and Biotech Park has been a major breakthrough before the commencement of sixth edition of Bio-2006. He said these two developments would give a boost to the industry.

Announcing the highlights of Bio 2006, he said, Bio 2006 would have an exclusive feature on “The Poster Session for Leader Prospects”. This would provide a platform for young researchers, scientists and technocrats working in universities and R&D labs to share their findings in the area of biotechnology.

The focal theme for Bangalore Bio 2006 is DNA- Discover, Nurture, Accelerate.

“Bio 2006 will witness a large participation of international delegates. Bangalore Bio has become a huge brand for us. It brings together academia, industries, scientists, into this knowledge intensive center,” according to Dr Kiran Mazumdar-Shaw, CMD, Biocon India and chairperson, Karnataka Vision Group on Biotechnology

Talking about the growth of the biotechnology segment in the country, she said, “Since last year, 25 new companies have been set up, which says a lot about the success of these events. Biotech is a capital intensive and gestational sector unlike IT, which needs time to stabilize and to reap huge returns.”

She said that the industry revenues was $1.5 billion in 2005-06 and would be $ 5 billion sector by 2010.

On manpower shortage she said a strategy has been chalked out to tackle the problem of more quantity and less quality. This includes upgrading the curriculum, internship facilities, academia and industry collaboration to gain practical knowledge.

Dr Shaw lamented only 25 per cent of the total bioscience graduates today are industry-ready. Huge employment opportunities would be generated in this sector by 2010.

Dr KK Narayanan, president, ABLE and MD –Metahelix Life Sciences Pvt Ltd, said, “Agri Bio tech will be the special focus of this event and June 9 will be declared Agri Biotech Day. The status of biotech in the country, pricing of seeds; issues on regulatory reforms will be discussed.”