Rs 50-cr biotech venture fund in Gujarat

  • 16/06/2005

  • Pioneer (New Delhi)

Gujarat has constituted a State Biotechnology Mission for implementation, coordination and promotion of biotechnology. A meeting of the Gujarat Council for Biotechnology chaired by Chief Minister Narendra Modi took this decision and announced the establishment of a Rs 50-crore biotechnology venture fund to promote entrepreneurship in the field. The State Government has contributed Rs 10 crore to the corpus and the remaining amount shall be mobilised from financial institutions.According to JN Singh, Secretary, Science and Technology, a Gujarat biotech park shall be developed at Vadodara with a public-private partnership; the private partner will be selected through competitive bidding.As committed support to biotechnology research, the Government has established two centres of excellence - CSMCRI, Bhavnagar, and MSU, Vadodara. Efforts are under way to initiate two or three dedicated PG courses in biotechnology.