BioVoice News June 2017 Issue 1 Volume 2 | Page 17

TOP FIVE POLICY DECISIONS FORMATION OF BIRAC In 2012, the Department of Biotechnology (DBT), Ministry of Science and Technology established the Biotechnology Industry Research Assistance Council (BIRAC), aimed at empowering and enabling the biotech innovation ecosystem for affordable product development. One of the key strategies of BIRAC is to foster innovating capabilities in all places of research and with a focus on startups and small and medium enterprises. Through the course of five years, BIRAC has supported over 800 projects, 950 start-ups, entrepreneurs, biotech companies and organizations and 20 incubators across the country, resulting in over 66 products and technologies and 130 Intellectual property rights being generated. MISSION BIOTECH HUB 2025 The National Biotechnology Development Strategy 2015-2020 announced by the DBT in 2015, lays emphasis on making India ready to meet the challenge of achieving US $100 billion biotech industry by 2025. The sector, which is currently growing at 20 per cent, is expected to go up to $11.6 billion by 2017, according to the achievement report of the sector under government’s ‘Make in India’ initiative. CREATION OF REGIONAL BIOTECH CENTRES The creation of three major bioclusters in India at Faridabad, Bengaluru and Hyderabad are the significant catalysts for the expansion of biotech ecosystem. The National Capital Region Biocluster at Faridabad hosts instit utes such as Regional Centre for Biotechnology (RCB) and Translational Health Science & Technology Institute (THSTI). The Bangalore Biocluster campus houses a cluster of institutions such as India’s first Stem Cell Institute, inStem; laboratory based science lab, TIFR-NCBS and C-CAMP. In Hyderabad, the Genome Valley, IKP Knowledge Park and Alexandria Knowledge Park form the cluster of new startups and academic institutes. BRAI BILL The Biotechnology Regulatory Authority of India (BRAI) is a proposed regulatory body in India for uses of biotechnology products including genetically modified organisms (GMOs). The institute was first suggested under the Biotechnology Regulatory Authority of India (BRAI) draft bill prepared by the Department of Biotechnology in 2008. Since then, it has undergone several revisions. The bill has faced opposition from farmer groups and anti-GMO activists. INDUSTRY-ACADEMIA RESEARCH FUND Recently the government has given its approval for Industry-Academia Collaborative Mission for accelerating discovery research to early development for biopharmaceuticals – “Innovate in India- empowering biotech entrepreneurs and accelerating inclusive innovation.” Total project cost to be funded by Government of India is US $ 250 million (Rs 1500 crore) for five years. The 50 percent cost (US$ 125 million) for the Mission Programme will be arranged through the World Bank loan. BIOVOICENEWS.COM 17