PM to inaugurate Biotech Expo 2022; a move towards AatmaNirbhar Bharat in Biotech Startup Innovations
Over the years, Biotechnology has emerged as an integral part of the Indian bio-economy and to give impetus to this ever-growing sector, Prime Minister Narendra Modi will inaugurate the Biotech Startup Expo 2022 on the 9th of June at Pragati Maidan in New Delhi.
Biotech Expo 2022 – What’s in store?
The Biotech Startup Expo 2022 is a two-day event being held on the 9th and 10th of June. Organised by the Department of Biotechnology and Biotechnology Industry Research Assistance Council (BIRAC); the theme of the Expo is ‘Biotech Startup Innovations: Towards AatmaNirbhar Bharat.’ This Expo will also mark the completion of ten years of setting up of BIRAC.
The aim of this Expo is to provide a platform for entrepreneurs, investors, industry leaders, scientists, researchers, bio-incubators, manufacturers, regulators, government officials etc. It is pertinent to note that about 300 stalls will be set up at the Expo, which will showcase the applications of biotechnology in various fields including healthcare, genomics, biopharma, agriculture, industrial biotechnology, waste-to-value, and clean energy, among others.
Biotechnology Sector in India
The biotechnology industry in India stood at US$ 63 billion in 2019 and it is expected to reach US$ 150 billion by 2025. It is important to note that India is among the top 12 destinations for biotechnology globally and 3rd largest biotechnology destination in the Asia Pacific region. Government flagship programs such as ‘Make-In-India’ and ‘Startup-India’ are recognising the necessity for entrepreneurship development in the country and hence, DBT (Department of Biotechnology) has taken initiatives to build, and support and promote India’s biotech ecosystem in sectors like healthcare, agriculture, and industrial biotechnology.
BIRAC
Biotechnology Industry Research Assistance Council (BIRAC), an entrusted non-for-profit organisation set up by the Department of Biotechnology (DBT), is set up to strengthen and empower the emerging Biotech enterprises to undertake strategic research and innovation, addressing nationally relevant product development needs.
A look at the major initiatives under the flagship program
- Around 35 Bioincubators have been set up across the country with world-class facilities
- The 1st International Incubator – Clean Energy International Incubator has been set up under Mission Innovation by DBT & BIRAC.
- AcE (Accelerating Entrepreneurs) Fund and Start-Up India SEED fund have been launched to provide capital assistance to start-ups and act as a bridge between promoters’ investment and venture/angel investors.
- FIRST, (Facilitation of Innovation and Regulations for Start-ups and Innovators) HUB is created at BIRAC to resolve the queries of start-ups, entrepreneurs, researchers, academicians, incubation centres, SMEs etc.
DBT is organizing national workshops on facilitating the resolution of regulatory concerns faced by innovators. In these workshops, the regulators are reaching out to innovators to help them resolve their regulatory issues and handhold them to get market authorization.
