National Science and Technology Entrepreneurship Development Board (NSTEDB) has accorded service tax exemption to Biotech Park, Lucknow.
This would greatly help biotechnology researchers and entrepreneurs associated with the Park.
Set up jointly by the union department of biotechnology and Uttar Pradesh Department of Science and Technology, the Park is predominantly technology incubator and the tax exemption is for incubator and its incubates.
Besides hand holding 20 start-ups, the Park motivates scientists and entrepreneurs to venture into biotechnology. It prides itself as a model of collaboration between industries, research institutes and academia.
