Karnataka to Unveil Revised Biotech Policy: CM Siddaramaiah
The policy encourages establishing high-tech biotech clusters, supports industries in setting up manufacturing units, and facilitates startups and SMEs with plug-and-play flexibilities.
Karnataka Government is gearing up to unveil a revised Biotech Policy, announced by Chief Minister Siddaramaiah recently. The policy targets positioning Karnataka as a global clinical trials hub and a key player in genomics, focusing on precise genome editing known as 'A Crack-in-Creation.'
The CM said, "Karnataka was the pioneer in introducing a biotech policy in 2001. This policy revision reflects our commitment to staying ahead of the curve and fostering growth in this critical sector.’’
The updated policy introduces various incentives, such as a bio-manufacturing unit investment subsidy of up to INR 10 Cr, 50% reimbursement for high-end R&D equipment expenses (up to INR 10 Lakh), startup and MSME lease rental reimbursement (up to 5 Lakh), employment generation incentives (up to INR 50,000 per fresher), and internship stipend reimbursement (up to INR 5000 per intern).
Further, it intends to provide enhanced benefits for project and valuation report preparation, standardisation certificates, and marketing incentives. The policy encourages the establishment of high-tech biotech clusters, supports industries in setting up manufacturing units, and facilitates startups and SMEs with plug-and-play flexibilities.
The proposal includes the creation of greenfield bio foundries in PPP mode to meet the demands of growth-stage companies. To foster entrepreneurship, the policy offers a fellowship of INR 50,000 per month for 12 months to graduating students or experienced professionals, aiming to boost successful startup establishments and mitigate entrepreneurial risks.
With a focus on 'Transformation through impactful Implementation,' the draft policy aims to propel growth from a linear to an exponential trajectory, quadrupling the overall bioeconomy of the state
Further, the policy envisions establishing a rural biotechnological innovation centre to promote 'bio-villages' and support impactful innovations in healthcare, agriculture, and environmental sustainability.
Identifying 10 key biotechnology areas, the policy focuses on bio-agriculture, marine biotechnology, synthetic biology, bio-derived materials, medical devices, AI & ML, 3D bioprinting, antimicrobial resistance, multi-omics, and space biotechnology. The state commits to ongoing support for research and development in these domains.
Additionally, it focuses on building a skilled workforce with a 'vision to inspire and aspire' by enhancing IBAB and CHG into a globally recognised university through improved infrastructure and financial support.
Days back, the Karnataka Government planned to build KHIR City with INR 40,000 Cr investment and 80,000 job creation opportunities. The new investment region is planned to span 2,000 acres within 60 km of Bengaluru and will be developed in a phased manner.
