BioVoice News April 2017 Issue 11 Volume 1 | Page 20

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