1250 Crore Investment in the Biotechnology Sector, garnered through Make in Odisha Conclave 2022

by Subhechcha Ganguly
92 views
0
(0)

The Science and Technology department and the Association of Biotechnology Led Enterprise (ABLE) signed a memorandum of understanding (MOU) at the MIO conclave 2022 with the intention of bringing biotech industries to Odisha to mentor and nurture biotech startups, bringing international knowledge groups to Odisha for investment purposes, and preparing a conducive biotech policy for Odisha.

An international organisation called the Global Network of Entrepreneurs and Professionals for Odisha (GNEPO) has signed a memorandum of understanding (MoU) to promote global-Odisha entrepreneurial exchanges, to provide a platform for the development of bioentrepreneurship in Odisha with a global reach, and to identify and submit a mix of 10 potential contacts (mentors, entrepreneurs, investors, networkers, entrepreneurial professionals, corporate ventures, VCs, and angels) each year .

Huwel Lifesciences has promised a 50 crore investment. 500 crores have been offered as investment by CropGini. The Biotechnology Sector received investments totaling 1250 crore during MIO Conclave’2022. More than 8,000 people will have the opportunity to find employment as a result of the investment.

Entrepreneurs, government representatives, and academics were present in the plenary session. Odisha is a distinctive littoral state with a wealth of wildlife, according to Minister of Science and Technology Ashok Chandra Panda. There are numerous opportunities for biotechnology investigations due to the 480 km long coastline, abundant mangroves and swamplands in Bhitarkanika, brackish water lakes like Chilika, woodlands like Simlipal, and medicinal plant-rich Mahendragiri. The state’s numerous agroclimatic regions and natural resources present a wealth of potential, particularly for those working in marine biotechnology, food processing, and agriculture.

According to Panda, who cited the State’s Millets Mission’s enormous success and the Chief Minister’s unwavering support for it, “Biotechnology offers solutions to a range of issues concerning health to food security.” We are going to provide biotechnology startups with a variety of supports.

The Government of Odisha designated biotechnology as a “Thrust Sector” in its IPR 2022, taking into account the sector’s significance. All qualifying biotechnology initiatives will receive sufficient government assistance along with the support provided by numerous policies, ranging from the startup policy to the biotechnology policy, to establish businesses and develop. The sector is ready to expand thanks to connections between business and academia, a cooperative work environment, top-notch industrial facilities, a network of angel & venture capitalist funds, and government support. Given the favourable biotechnology environment in the State, many startups will have new opportunities. said Panda.

Bhaskar Jyoti Sarma, the Commissioner/Secretary of the Science and Technology Department, and Puja Mishra, the Joint Secretary, both spoke at the event. Laxmi Narayan Padhi and Sashikant Dash, Deputy Director of the Department of Science and Technology, were in attendance. The Plenary Session discussed Odisha’s competitive advantages in the lucrative fields of biotechnology, including diagnostics, marine, and agriculture.

Bharat Biotech, through its anchor tenant M/s Sapigen BiologiX Pvt Ltd, has invested more than 500 Cr for the production of several vaccines in Odisha Biotech Park at Andharua with government support under the Biotech Policy 2018 and IPR 2015. They have also promised to invest an additional 700 Cr to broaden its reach.The Minister claimed that organisations like KIITs and ILS have each received Rs 2 crore to advance biotechnology research and advancement.In addition, the government has partnered with Utkal University and the Odisha University of Agriculture and Technology (OUAT) to develop the state of Odisha’s biotech industry. In the upcoming years, Bhubaneswar will develop into a thriving biotechnology hub, according to Panda.

Two panel discussions on “Bio-pharma” and “Agriculture & Industry” with participation from business owners and other stakeholders followed the plenary session.At the panel discussion on bio-pharma, speakers included Dr. Anu Acharya, founder of Mapmygenome, Dr. Shesheer Kumar, founder of Huwel Life Sciences in Hyderabad, Dr. Nusrat Sanghamitra Jahan, founder of CyGenica in Pune, and Dr. Amulya Panda, associate director of Panacea Biotech.Dr. GS Krishnan, President of ABLE, Bangalore, Dr. Manish Diwan, Head-Strategic Partnership & Entrepreneurship Development Biotechnology Industry Research Assistance Council (BIRAC), New Delhi, Dr. KK Narayanan, Founder of Kottaram Agro Foods Pvt Ltd, Bangalore, and Krishna Prasad, Senior VP, Shilpa Biologicals, Dharwad, moderated the discussion.

On the panel was Dr. Mrutyunjay Suar, Chairman of the Bhubaneswar City Knowledge Innovation Cluster Foundation (BCKIC), a project of the Office of Principal Scientific Advisor to the Government of India in Bhubaneswar.

Do you find this post useful?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

You may also like

Leave a Comment