Innovate In India (i3) program launched
30th June, 2017Category:
Ministry of Science and Technology having finally launched its USD 250-million program to promote the production of biological drugs in India. The program, first approved by the union cabinet in May, will focus on development of new vaccines, bio-therapeutics, diagnostics and medical devices to cater to India's rising disease burden. The ministry, has received a loan of USD 125 million (over Rs 800 crore) from the World Bank for its Innovate in India (i3) program. The Mission to be implemented by Biotechnology Industry Research Assistance Council (BIRAC), a Public Sector Undertaking of Department of Biotechnology will bring together expertise from national and international corridors to provide strategic guidance and direction to move promising solutions through the product development value chain.
The government aims to use i3 to create a globally competitive biopharmaceutical industry that improves access to affordable healthcare. The flagship program is expected to bolster collaboration between academia and the biopharma industry.
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