Gujarat is inviting biotech firms from Telangana to explore growth opportunities in the backdrop of a new, five-year Biotechnology Policy it has unveiled.
Encouraging investments in biotechnology sector is a focus and the Policy for 2022-27 reiterates the State’s commitment to promote rapid and inclusive growth in the area, Gujarat government said in a release on a roadshow, for the policy, it conducted here on Wednesday.
Mission Director of Gujarat State Biotechnology Mission and Deputy Secretary (BT), Department of Science and Technology of Gujarat Gargi Jain, who led the official delegation to the event, highlighted various initiatives that led to strengthening of the startup ecosystem in Gujarat. The State has emerged as a destination of choice, leading to establishment of over 200 biotechnology units, she said.
Speaking on the Biotechnology Policy 2022-27 and the incentives it offered to investors, Ms. Jain invited investors, developers, research organisations to set up research and development facilities such as preclinical testing, CROs, clean rooms and BSL-III laboratories.
Several incentives for firms, setting up operations in the State, are available under the policy, including 25% capital expenditure support, 15% operational expenditure support for five years, 7% interest subsidy as well as special support for mega, special and ecosystem strengthening projects, the release said.
Over 100 stakeholders from the biotechnology sector, including corporate leaders, prominent representatives from trade associations, academics and entrepreneurs from Andhra Pradesh and Telangana, participated in Bio-Connect, the event, which also played host to more than 10 one-on-one meetings between senior representatives of biotech firms and Gujarat government officials.
