Government plans investment in BT sector

BANGALORE: In a move to optimise chances of attracting the Bio-Technology industry in Karnataka in the second edition of the Global Investors Meet (GIM) 2012, authorities in the state will be

Published: 07th February 2012 01:41 AM  |   Last Updated: 16th May 2012 05:51 PM   |  A+A-

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BANGALORE: In a move to optimise chances of attracting the Bio-Technology industry in Karnataka in the second edition of the Global Investors Meet (GIM) 2012, authorities in the state will be investing, both capital and research mettle, into the sector. “Already 26 per cent of the BT revenues of the country and 52 per cent of the BT companies are located in the state,” Chief Minister D V Sadananda Gowda said after the inauguration of Bangalore India-Bio in the city on Monday. Sharing the ‘success’ of the finishing school model, he said that there were 12 such schools in the state, which were currently on the verge of completion later this year. He also said that the state’s Millennium Bio-Tech policy was also getting encouraging responses. He also said that the Alexandria Bio Tech park would be operational in two years and also that they would focus more into such initiatives in II and III tier cities.

He added that `108 crore would be spent on the neuro-ceutical and pharmaceutical parks and other incubation centres across the state.

Minister for IT/BT V S Acharya said he had requested the CM to have a higher budget allocation in the soon to be announced state budget for IT/BT. Acknowledging the ‘talent shortage’ he said that the finishing schools would create qualified and industry ready work force from the 12 finishing schools, who would be absorbed into the industry itself. He also shared that $10 million venture fund proposal in BT sector and convey the same to the government.

Department of IT/BT and S&T M K Bhan added that a new academy for young scholar, Bio-connect, an incubation hub near the National Centre for Biological Sciences. He also added that they had received approval for eight other such centres.

Adding to this, chairperson of the Karnataka Vision for BT, Kiran Mazumdar Shaw said, “BT manufacturing could bring in revenues, provided we do it well.” Emphasising the concepts of Bio-partnering, she said that the same could expand bandwidth for better sharing of resources.

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