In a bid to boost discovery and innovation in the biotech sector, government today approved a public private partnership programme earmarking a budgetary support of Rs 350 cr in the 11th five year plan.
"The Biotechnology Industry Partnership Programme (BIPP) is an advanced technology science scheme envisaged as a government partnership with industries for support on cost sharing basis for high risk discovery and innovation," Minister of State in the Prime Minister's Office Prithvraj Chavan told reporters after a meeting of the CCEA.
He said the programme would also go for accelerated technology development specially for futuristic areas.
"An amount of Rs 350 cr has been earmarked for the scheme during the 11th Plan," Chavan said.
The scheme is aimed at increasing competitiveness of Indian industry in new and futuristic technologies and enhance ownership of IP in these areas, he added.
"This will also help in addressing national unmet technological needs in agriculture, human health, animal productivity, energy and environment where expected social and economic impact is high," Chavan said.
The programme will also help fulfill biotech strategy objectives of 30% of Department of Biotechnology's R&D investment in partnership with industry.
The scheme provides for a government contribution of 30-50% to the industry for discovery linked innovation, he said, adding support would be provided only for futuristic areas, transformational technology and product development for public good.
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