cover story
said, “DBT must give us
recommendations on
the life cycle of a startup
in biotech space. We
are ready to amend the
definition. Turnover is
not major criteria. Exit
period is only 90 days
and insolvency clause
has been amended.” Mr
Abhishek added further
that the ‘Funds of Funds’
is a major initiative with
10k crore worth funding
to research projects
by 2025. “1200k crore
is being put this year.
This sector is going to
create a huge workforce.
20
BioVoiceNews | April 2017
We surely value this
industry,” he said.
The former Secretary
of DBT, Dr M K Bhan
feels that reinventing
of the good institutes is
important. “So, we must
channelize all the efforts
towards a dedicated
goal. Redesigning,
measurement and
assessment should be
done perodically. We
need deep innovation
system and design
architecture, he said
adding, “Small tributaries
make Ganges. Was
impressed with 100 drug
discovery projects funded
by the government.”
Boosting healthcare
product development
The enormous scope
of product need for
meeting vast healthcare
requirements in India
has been one of the
primary reason for foreign
companies to explore
Indian market. So, if
an indigenous effort is
made to meet unmet
needs, it can be the major
contributor for boosting