2014-01-26 07:50:32 - The Association of Biotechnology Led Enterprises (ABLE), the apex body of the biotech sector in India has successfully concluded its flagship annual conference ‘BIOINVEST 2014’ in Mumbai today with prominent industry experts debating and discussing on the need for investment in biotechnology sector.
Mumbai, January 24, 2014: This year the event saw the industry stalwarts expressing a keen interest in capitalizing on investor confidence. BIOINVEST 2014 addressed the critical barriers in the biotech industry today - intellectual capital and investment trends - and provided a platform to discuss these issues and more.
The event, which is an important Life Sciences and Investment Forum in the country, saw eminent industry experts, investors, venture capitalists, young and aspiring entrepreneurs discuss on key areas which will drive investor interest in India’s biotech sector in the next 5 years factoring in all the current constraints and some visible trends including Big Data and in-sourced R&D projects that may offer a solutions for the growth of the sector.
The experts felt that private funding for early stage Indian biotech has not been encouraging and explored on the ways to generate interest of venture capitalists in the promising biotechnology space and help its growth. The conference also witnessed discussions on skill development and education as the key pillars for the industry to grow in future.
Dr. Rashmi Barbhaiya from Advinus Therapeutics shared his insights on Advinus-Takeda deal and demonstrated how leading MNCs are not averse to tie-ups with Innovative Indian companies. The top five winning teams from the Biotechnology Entrepreneurship Student Teams (BEST) 2013 edition from IIT Chennai, IISc Bangalore, Centre for Converging Technologies - University of Rajasthan & Amity Institute of Pharmacy - Noida, Stanford Bio Design and ICT-Mumbai pitched their innovative ideas to the august gathering. The panel discussions on ‘Investing in Intellectual Capital Creation, ‘Investment Trends In Mature Biotech Markets - Lessons For India’ , ‘The Big Data Healthcare Business Revolution’ and on ‘Venture Capital for Life Sciences’ were stimulating and inspiring for industry and government representatives to ready themselves to meet the challenges of the industry.
Dr. PM Murali, President, ABLE said, “BIOINVEST 2014 received a good response and provided a perfect platform for the industry to discuss and debate challenges facing the biotech and allied sectors in the country and on ways to attract investment for the growth of the sector.”
The Indian Biotechnology industry has been growing at a healthy pace and accelerating towards the anticipated 100 billion USD by 2025. A growth rate of 30 -35% seems to be difficult task at a time when there are a lot of fundamental issues, both at the macro and micro level. ABLE along with government agencies and others have launched several initiatives over the past years to assist in eliminating the gap between industry, academia and Government, which was hampering the growth of the industry.
Association of Biotechnology Led Enterprises - ABLE is a not-for-profit pan-India forum that represents the Indian Biotechnology Sector. It was launched in April 2003, after industry leaders felt a need to form an exclusive forum to represent the Indian Biotechnology Sector. It has over 270 members from all across India representing all verticals of the sector like agribiotech, bio-pharma, industrial biotech, bioinformatics, investment banks and Venture Capital firms, leading research and academic institutes and law firms and equipment suppliers. The primary focus of ABLE is to accelerate the pace of growth of the Biotechnology sector in India, through partnering with the Government in their biotechnology initiatives to deliver optimal policies and create a positive regulatory environment, encouraging entrepreneurship and investment in the sector, providing a platform for domestic and overseas companies to explore collaboration and partnerships, forging stronger links between academia and industry and showcasing the strengths of the Indian biotech sector. In the past decade ABLE has played a significant role in catalyzing the growth of the biotech industry by facilitating advocacy, collaboration, investment and encouraging entrepreneurship. Some of the milestones that ABLE has achieved are those related to Dr.Mashelkar Committee report on recombinant product, Innovative programs of the DST viz. BIRAP and BIPP , Vision document for the Indian Biotech industry, Roadmap for the biotech Industry, building the Biotechnology Entrepreneurship Students team (BEST) and North East Life Science Entrepreneurship (NEST) programs, the BioInvest Program and the International promotion of Brand India through organizing the India Pavilion in various BIO Shows - www.ableindia.in
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