Sudhir Kumar / New Delhi
Union Minister for Science and Technology Dr Jitendra Singh on Sunday said that government will promote Industry-driven Start-Ups to create wealth and jobs.
Addressing the 37th Foundation day of Department of Biotechnology at National Institute of Immunology here the Minister said, Start-Ups will become sustainable if Industry from the very beginning identifies the product and invest matching equity with the Government.
The Minister assured that funds will not be a constraint under Prime Minister Narendra Modi’s Government to promote the Innovation Eco-System in the country.
Dr Jitendra Singh called for equal stake with equal partnership and responsibility by Industry to sustain the Start-Ups boom. He added that the Government of India is encouraging industrial outreach by extending all possible support.
Dr Singh asserted that India is poised to become a Global Bio-manufacturing Hub and will figure among the top five countries by 2025. The Minister added that Biotechnology is the technology of tomorrow as Information technology has already reached its saturation point. The Minister emphasized that Biotech will be the key to Amrit Kaal Economy and also for making India a frontline nation in the world.
He also informed that India’s bio-economy has grown eight times in the last 8 years from 10 billion US dollars in 2014 to over 80 billion US dollars in the year 2022. Similarly, Biotech Startups have grown 100 times in the last 8 years from 52 odd startups in 2014 to more than 5 thousand 300 in 2022.
In his address, Secretary, Department of Biotechnology, Dr Rajesh Gokhale said that the government with the help of Science, Technology and Innovation, aspires to position India among the world’s top five scientific powers. He said, it is very much committed in supporting scientific research and innovations in this regard.
