Bangalore: The Karnataka Biotechnology and Information Technology Services (KBITS) and the Pennsylvania Biotechnology Association (PABio) have signed a memorandum of understanding to jointly create and promote biotech opportunities both in the US and Karnataka.
Pennsylvania Bio (PABio) is a 518-member trade association for the life sciences in Pennsylvania and has built strengths in biotech, medical device, diagnostic, pharmaceutical, research, and financial services.
Whereas KBITS is the nodal agency of the Karnataka Government providing incentives and concessions to the biotech sector, under the various schemes and policies of the State Government, including setting up of biotech finishing schools in Karnataka. KBITS is also the implementing agency for the Bangalore Biotech Park and the proposed biotech parks in Tier II cities.
According to Mr Chakravarthi Mohan, Managing Director, KBITS, and Director of Karnataka Department of IT/BT, “Both PABio and KBITS have a mandate to promote biotech activities in their respective regions by creating appropriate opportunities like trade events, conferences, business delegations etc.”
“Both the associations will work together to support the efforts of life sciences companies to establish or grow a presence in the region. And this collaborative project will be known as ‘BioSpan' to reflect the goal of spanning the two regions and the two countries,” he added.
Mr Christopher P. Molineaux, President, Pennsylvania Biotechnology Association, said PABio is the only state-wide trade association for the life sciences in Pennsylvania.
Bio-Venture Fund
Dr V.S. Acharya, Karnataka Minister for IT & BT, said, “The State Government is planning to set up a $10-million Bio-Venture Fund, to cater to certain hi-tech areas with strong social relevance, such as transgenics, stem cell biology, etc.
“The intention of the State Government is quite clear. We would like to see a booming economy led by the knowledge sectors. We believe in realistic, practical and workable policies. Several initiatives announced by us are already under implementation as a result of the practical policies.”
On the issue of shortage of talent in the biotech sector, Dr Acharya said the Government has sanctioned setting-up of 12 Biotech Finishing Schools, recommended by the Selection Committee headed by Prof Padmanaban.
“The one-year course of BT Finishing Schools, started in September last year, is mid-way through and the feedback we have received is to say the least, highly rewarding. All the students undergoing the course at the schools will be absorbed by the industry, in partnership with which the Biotech Finishing School is conducting the course.”
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