Andhra Pradesh to get life sciences parks in PPP mode| MENAFN.COM

Wednesday, 10 August 2022 03:17 GMT

Andhra Pradesh to get life sciences parks in PPP mode

(MENAFN- KNN India) The Andhra Pradesh Government has sought for new partnerships from private sectors for development of a mega life sciences park in Visakhapatnam.

The park will have a plug and play lab space, incubation centre, skill development and training centre, R&D labs with focus on stem cell research, disease-diagnosis, value-added fish, horticultural and pharmaceutical products as part of new biotechnology policy.

The state government will provide financial assistance of up to 50 per cent of cost of infrastructure for critical external infrastructure facilities like roads, power, water, waste management and testing facilities up to Rs 15 crore.

It also intended to develop 3 mini life science parks over a period of next 3 years at Kakinada, Anantapur and Guntur or Chittoor.

Incubation centres will nurture innovation and take potential technologies to the marketplace with the objectives to facilitate strong linkages between academic institutions, research institutions and industry; to spin-off technologies/innovations from academic and R&D institutions and create innovative start-ups in hi-potential sectors where there is maximum impact in terms of employment generation, economic value creation and societal impact; to identify best practices for rapid commercialization of research and innovations with significant socio-economic outcomes and to nurture the creation of new IPRs in life sciences and biotech sector especially from young students or high-risk early-stage entrepreneurs, a support system as well as felicitation/recognition mechanisms have to be created in the proposed knowledge centres.

The biotechnology sector, characterized by high investments and high demand, continues to remain the mainstay of scientific research across the world. The sector promises extraordinary potential in many emerging areas such as oncology, bio-similar development, development of vaccines and viral drugs, new drug developments, improved healthcare delivery systems and innovation in medical devices. (KNN/ST)

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