Boosting biotech
the Karnataka government has recently launched an ambitious plan that aims at making the state the most attractive investment destination for multinational biotech firms. "Bangalore is already termed as the infotech city of the country. We now aim to make it the biotech city,' said S M Krishna, the state's chief minister. The state government has pledged to provide the biotech industry similar institutional and policy support as enjoyed by the infotech sector. The programme has provisions for establishing three biotech parks and has policies related to controversial matters such as bioethics and biosafety.
The government also intends to make the state a major outsourcing point for pharmaceutical research. A special fund has been instituted for the purpose. The fund is India's first state sponsored biotech venture capital. "The funds will be used for research and patent facilitation,' informed Shaw.
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