India encouraging opportunities for biotech innovation
In a bid to encourage new and innovative ideas for research and commercialization, the Indian government's Department of Biotechnology has invited proposals from Indian biotech companies for funding of R&D, reports The Pharma Letter's India correspondent.
The government has noted that one of the main engines of innovations in the country is biotechnology, and it is imperative to focus on fostering local ecosystems.
Recognizing that research on biotechnology has a vast commercial potential for products in human health, including biosimilars, diagnostics and immunobiologicals, the Department of Biotechnology (DBT) has decided to support private industries and get them involved in the development of products and processes. The aim is also to boost public-private partnership efforts in the country, and focus on products that have high societal relevance.
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