With an aim of addressing need of small enterprises in bio-tech industry, the first government-run 'bio-incubator plant' in Gujarat is all set to be established at Savli in Vadodara city with an initial cost of around Rs 16 crore.
The Biotechnology Savli Park Incubator for Research, Innovation and Technopreneurship (BT-SPIRIT) will be supported by the Centre as well the state government.
"Gujarat will get the first government-run bio-incubator in Savli area in Vadodara. It is being set up with an aim to encourage small enterprises in the sector of bio-technology which will be supported by the state and centre government through their various agencies," Akshay Kumar Saxena, Mission Director of Gujarat State Bio technology Mission (GSBTM), said.
The incubator will cater to Bio-Business Incubation for the start ups and growth of small enterprises and also provide mentoring and venture support, he said.
According to Saxena, this will also benefit would-to-be entrepreneurs through various outreach programmes and provide support to those existing and future entrepreneurs through the techno-preneurship promotions and the business acceleration centre.
Earlier a bio-incubator plant by a private enterprise was established in Ahmedabad city but this would be the first government-run plant to encourage commercialisation in the start-ups and small enterprises in biotechnology sector, Saxena said.
The Biotechnology Industry Research Assistance Council [BIRAC], which is a part of Centre Government's Department of Biotechnology, has given its nod to develop a Bio-Incubator at Savli Biotech Park in Vadodara, the official said.
The concept behind the incubator is also to develop bio-tech clusters by facilitating the development of bioscience enterprises in Gujarat and thereby create new jobs, investment opportunities and to support infrastructure for the benefit of society, Saxena said.
According to the Mission Director, the initial cost of the incubator would be around Rs 16 crore and it will start working by the end of January or February 2015 with around 25 incubatees.
This bio-incubator plant is the part of Department of Bio-technology's country-wide project 'National Grid for Biotech Incubation Centres', Saxena said.