Global Bio-India Summit concludes, provides opportunity to showcase potential of India's biotech sector
In order to create an environment for developing biotechnology industry in West Bengal, the state government will provide dedicated space for incubation and laboratory so that start-ups in the sector can thrive, an official said.
With three per cent share of the global biotechnology market, India ranks third in the Asia Pacific region after Japan and China and is the 12th largest biotechnology market internationally, the official said.
"In the biotech park, a facility with 45,000 sq ft space will be available as an incubation and lab(laboratory) to promote start ups and entrepreneurs," the Biotechnology department secretary Barun Kumar Ray, said on Thursday at a stakeholders' meet, organised by CII.
The meeting was held to sensitise the potential start-ups, entrepreneurs and investors for their biotechnology ventures at the facility.
West Bengal is uniquely positioned to harness the potential of biotechnology due to its bio-diversity, conducive climate, geographic location and availability of unique crops and plants which can be utilised with the intervention of biotech for production of value-added products, the official said.
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