Aiming to become one of the top five bio-tech hubs in the country, Odisha released the draft of its biotechnology policy on Friday. The policy stresses on creating an enabling environment for biotech investments through strategic partnership initiatives, industrial infrastructure development, investment assistance and policy interventions.
The policy talks of promoting innovation in research & development (R&D) by providing financial and infrastructural support and also encouraging public-private partnership (PPP) in R&D for sustained growth and international competitiveness.
Biotechnology has been listed as one of the priority sectors under the Industrial Policy Resolution (IPR), 2015 by the Odisha government. The state government has proposed to set up a biotechnology fund with an initial contribution of Rs 25 crore. The fund is expected to be utilised for investments, fund of funds and promotional activities in biotechnology sector in the state.
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To offer marketing assistance, the state government would establish a dedicated cell within the Directorate of Export Promotion & Marketing to provide export marketing services to biotechnology products and services.
A policy advisory vision group is also proposed to be constituted by the state government. The group would act as a think tank and key advisor on diverse policy related issues. It would also recommend policy advisory to the government on various programmes and initiatives that are relevant to expand and strengthen the biotechnology sector.