Hyderabad, July 31 (Maxim News): IT & Industries Minister K.T. Rama Rao today launched a web portal for life sciences sector aimed at creating an interface between the government, Industries, Research Institutions and Start- ups. Telangana, which emerged as the ‘Pharma capital of India’, has set out an ambitious vision for the sector, through leveraging its existing strengths, to create four lakh jobs with an investment of $100b in the next 10 years.
Speaking on the occasion, K.T. Rama Rao said, “Hyderabad is known for its vibrant pharma and life sciences ecosystem. This initiative by the State Government reflects our commitment towards positioning Hyderabad and Telangana as a major hub in Life sciences in Asia. I believe this effort will help in mapping competencies and in bringing out tailormade policy more relevant to its stakeholders; undertake skilling initiatives based on the demand of skilled workforce and aligning support from the State Government; to help industries to find investor / business partners; and most importantly, create a network for sharing information on various initiatives of the Government. I would strongly encourage companies, institutions, incubators and start-ups to partner in this Government of Telangana’s initiative and benefit from this effort”.
Principal Secretary (ITE&C) Jayesh Ranjan said, “There are more than 800 pharma / biotech units in various parts of Hyderabad today with an estimated annual turnover of about USD 13 billion. Given the extraordinary and vibrant ecosystem, many investors and multinational companies are interested in partnerships and exploring investment opportunities with the domestic institutions and they reach out to the State Government seeking assistance.
“We believe our companies will benefit enormously from such opportunities to grow their engagement avenues and attract potential investors, thereby increasing employment. Recent partnerships / acquisitions like Gland Pharma & China based Fosun Pharma at $1.2 billion, and TPG’s investment of about Rs. 900 Crores in Sai Life Sciences, etc. stand testimony to the global interest in the State’s Life Sciences sector. With better understanding of our life sciences ecosystem, we would undertake more strategic initiatives to help the companies, start-ups, incubators and institutions present in the State”.
“World-class infrastructure, progressive policies, cluster approach and availability of talent creates an enviable and unique identity for Telangana, which continues to attract major global and Indian Life Sciences companies to the State. Government is committed to enable and facilitate unique linkages and partnerships between Pharma, Biotech, Medical Devices and IT companies to enable holistic growth and to accelerate the development of new products and innovation in healthcare. This is one such effort aimed at breaking the silos and enabling synergies. Also, Hyderabad has the largest number of Lifesciences / Healthcare incubators with more than 100 start-up ventures, but there are many other innovative start-ups and entrepreneurs outside these incubators. We are keen on identifying them and offering required assistance from the Government” said Shakthi Nagappan, Director (Life Sciences and Pharma), Government of Telangana.
Industry, Academia and Start-ups can access the portal at http://tsiic.telangana.gov.in/ or http://www.lsprofiling.telangana.gov.in/ (Maxim News)
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