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CCEA approves Industry-Academia Collaborative Mission

May 18, 2017 17:00 IST

Top Picks :  National | India Current Affairs , May 2017 Current Affairs , Current Affairs for SSC Exams , Exam Specific Current Affairs , Current Affairs for Civil Services Exam , Monthly Current Affairs 2017 , Current Affairs for Bank Exams

The Cabinet Committee on Economic Affairs on 17 May 2017 gave its approval for Industry-Academia Collaborative Mission for accelerating discovery research to early development for biopharmaceuticals - "Innovate in India (13) empowering biotech entrepreneurs & accelerating inclusive innovation."

The Mission will be funded by the Government of India. It will be implemented by Biotechnology Industry Research Assistance Council (BIRAC), which is a Public Sector Undertaking of Department of Biotechnology (DBT).

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Key highlights

The Industry-Academia Collaborative Mission would be a Pan-India program.

Its key focus areas is preparing India's technological and product development capabilities in the biopharmaceutical sector to a level that it is globally competitive over the next 10-15 years.

It also aims at transforming the health standards of India's population through affordable product development.

Total project cost to be funded by Government of India is Rs. 1500 crore for five years. The 50% cost for the Mission Programme will be arranged through the World Bank loan.

For the implementation of the Mission, a Programme Management Unit will be set up at BIRAC. The Unit will work as an operational and functional arm that oversees and monitors program implementation and progress.

The Mission will focus on development of specific products, like vaccines, biotherapeutics, etc., establishment of shared infrastructure and facilities, building and strengthening domain specific knowledge and management skills, creating and enhancing technology transfer capabilities in public and private sector.

The Mission will provide a holistic and integrated approach to strengthen and support the entire product development value chain for accelerating the research leads to product development.

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