Karnataka is planning to revisit Millennium Biotech Policy to incorporate the changing needs of the biotech industry.

Addressing the 14th edition of Bangalore India Bio being held here, Karnataka Chief Minister Siddaramaiah said, “Since the current policy is completing five years, we propose to revisit the same this year.”

Inputs of the vision group on biotech will be taken for Version-3 of the policy. “The new policy will address the talent shortage faced by the industry, aims to set up more biotech finishing schools, incubation centres and common instrumentation facility,” he added.

Biotech finishing school model of the State government has been appreciated by the Union government, which has sanctioned a fellowship of ₹5,000 per student per month, and the scheme is valid for three years.

There are immense opportunities for the biotech players to grow in this country and the Indian biotech sector has multiplied six times from 2003 to reach more than $6 billion. The compounded growth rate of 20 per cent to 22 per cent in this sector is very encouraging, said Siddaramaiah.

Speaking at the inaugural event, SR Patil, Karnataka Minister for IT & BT and Science & Technology, said “The new biotech policy is to focus more on stimulus measures. There will be further liberalisation. We are determined to wipe out the bureaucratic red-tapism. The biotech industry will have a right mix of sops and incentives. There will be a series of measures to support the start-ups.”

To address the issue of shortage of talent, Karnataka is planning to take numerous steps. “The State Government has established as many as 12 Biotech Finishing Schools. The one-year course offered at BT Finishing Schools is highly rewarding. This is the feedback we have received,” Patil said.

Majority of the students undergoing the course at the Biotech Finishing Schools are being absorbed by the industry. Of course, these schools have partnership with industries in running the course.

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