DBT launches 'Innovate in India' programme to promote entrepreneurship and indigenous manufacturing in the biopharmaceutical sector
In an effort to create a globally competitive biopharmaceutical industry that addresses the country's major concerns about barriers to affordable healthcare, the Department of Biotechnology (DBT) has launched the "Innovate in India (i3)" program, As well as the systemic support to pursue their aspirations in biotechnological innovation, and to transform India into a global hub for cutting-edge biotechnology research and development.
A collaborative mission between industry and academia to accelerate discovery research for the early development of biopharmaceuticals, this $ 250 million DBT program is a unique mission that brings together industry and academia to promote entrepreneurship and Indigenous manufacturing in the biopharmaceutical sector.
This collaborative mission between industry and academia is expected to change the game for the Indian biopharma industry. This flagship program of the DBT, in collaboration with the World Bank, will be implemented by the Biotechnology Industry Research Assistance Council (BIRAC) of the DBT.
The program will specifically focus on the development of new vaccines, bio-therapeutics, diagnostics and medical devices to better address the growing burden of disease in the country. It will also bring together isolated centers of excellence, improve regional capacities and strengthen the existing network of bio-clusters in terms of capacity as well as quantity and quality of production.
The program aims to create an ecosystem conducive to promoting entrepreneurship and indigenous manufacturing in the sector. It will help nurture the next generation of technical skills; Promoting entrepreneurship; And support institutions in adopting innovations, technologies and models of global licenses. The program will help deliver 6 to 10 new products over the next five years, create several dedicated facilities for next-generation skills and hundreds of jobs in the process. It will provide young entrepreneurs with the confidence and systemic support to pursue their aspirations in biotechnological innovation and transform India into a world center of research and development.
As a flagship program of the Government of India in collaboration with the World Bank, it promises to boost the national biopharma growth curve in India by accelerating the translation of research concepts to viable products, supporting clinical validation, enabling sustainable networks of collaboration between industry And Academy and supporting business ecosystems among many others.
Currently India has only 2.8% share in the global biopharmaceutical market, the program would elevate this to 5% resulting in an additional business opportunity of 16 billion USD.
The Monitoring of the program would be provided by the Interministerial Steering Committee composed of members from various Ministries; And it would have the support of the Technical Advisory Group of the Program composed of world and national leaders of the industry and the academic world. Therefore, the program is unique in its approach with the participation of global experts, industry leaders and the World Bank in its drive and ensuring that world-class biomedical products are born out of the initiative.