Sunday, July 4, 2010

The Government is taking various initiatives for Biotechnology and its development

Government Initiatives
  1. The Department of Biotechnology implemented the National Biotechnology Development Strategy 2007 to support India’s core biotech space which seeks to address challenges relating to the sector in terms of R, technology transfer, IPR and other regulations, investments, talent and human resources.
  2. The Biotechnology Industry Partnership Program offers funds to the industry to carry out high-risk research. The program provides support in the form of grants and soft loans to innovative projects in companies for early stage and late-stage clinical trials.
  3. The Small Business Innovation Research Initiative in which the government provides early-stage funding.
  4. The government is looking to speed up the process of setting up a National Biotechnology Regulatory Authority which will support public and private investment in biotechnology which will thus help in creating infrastructure which can support high-end research in the long term. This authority would create a single regulatory body managing all aspects of biotechnology and drug regulation.
  5. Another initiative, the New Millennium Indian Technology Leadership Initiative program assists public-private partnerships in the industry.
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