HYDERABAD: The State government signed a pact with the government of Taizhou (China), and Taizhou Medical Hi-Tech Development Zone here on Wednesday to share the know-how, support and assist research in the field of life sciences, biotechnology and medical devices.
The agreement, singed on the concluding day of BioAsia 2019, will be valid for two years, during which period they will identify new technologies and industry requirements to expand public industrial service platforms within industrial cities. The MoU also allows both partners to facilitate matchmaking of companies and research institutes from their respective regions in the related fields towards R&D, regulations, manufacturing practices, commercialisation and other areas of mutual interest.
Participating in a panel discussion during the day, Shobana Kamineni, Executive Vice Chairperson, Apollo Hospitals, said besides industry, governments too are equally responsible in giving the required push to startups and taking their ideas to market. She recalled how the Israeli government gives full funding support to incubators promoting startups. “Any new firm can start working on its idea with the government pitching in around 80 per cent of the funding. A similar arrangement needs to be built in our country as well,” she reasoned. Concurring with her, Dr Krishna Ella, CMD, Bharat Biotech, said one of the major factors affecting the growth of startups includes regulation and that focus should be given to the healthcare sector.
Meanwhile, the State government’s annual flagship event concluded Wednesday and the Lifetime achievement award was given to Dr BS Bajaj of Federation of Asian Biotech Associations (Faba) for his outstanding contribution to the healthcare industry and for initiating international collaboration for Indian companies. “In its journey of 16 years, BioAsia has provided platform to initiate partnerships and around 18,000 business meetings have been organised at BioAsia in last 16 years with delegates from over 90 countries participating in BioAsia so far. We are sure that the trend will continue in the next edition of BioAsia in 2020 as well,” said Jayesh Ranjan, IT secretary of Telangana.
The event saw about 35 investors including Lighthouse Canton, Fulcrum, 50K Ventures, 3one4 Capital, Unitus VC, Ah! Ventures, Anthill Ventures, RoundGlass, and M&A division of Dr Reddy’s. The 16th edition of the event saw the highest-ever participation of 2,400 delegates, over 100 speakers and participation of more than 700 corporates. According to the organisers, a record number of 1,700 partnering meetings -- a first in the history of BioAsia -- were conducted during the three days.