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Union Cabinet approves MoU between India, Finland in the field of Biotechnology

The Union Cabinet has approved the MoU between India and Finland for cooperation based on mutual interest in the field of Biotechnology, for funding and implementing ambitious industry-led innovative and transnational projects within the broad scope of research development and innovation.

Feb 7, 2019 10:24 IST
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The Union Cabinet chaired by Prime Minister Narendra Modi on February 6, 2019 approved the Memorandum of Understanding between India and Finland for cooperation based on mutual interest in the field of Biotechnology, for funding and implementing ambitious industry-led innovative and transnational projects within the broad scope of research development and innovation.

Objective

The agreement will support the creation of long-term research, development and innovation collaboration mechanism and to establish and strengthen cooperative network between Indian and Finnish organisations.

By funding need-oriented, ambitious joint projects of high international standards, the two countries aim to help reach world-class innovations beneficial to both countries.

It will also facilitate knowledge sharing and knowledge generation among scientists, researchers and industry in the two countries.

Key Highlights

India’s Department of Biotechnology (DBT) and Business Finland have agreed to cooperate with Biotechnology Industry Research Assistance Council (BIRAC), the public sector enterprise of DBT for funding and implementing ambitious industry-led innovative and transnational projects.

The two departments, based on their mutual interest, have identified the following research areas for cooperation:

i. Mission Innovation

ii. Biofuture platform, biofuels, bioenergy and biomass-based products;

iii. Environmental and energy applications of biotechnology

iv. Business development of start-up and growth companies

v. Education technologies and games in life sciences

vi.
Other fields of life science industry

Background

The Memorandum of Understanding was signed in accordance with the agreement signed on March 25, 2008 between the Governments of India and Finland on cooperation in the fields of science and technology, where, based on mutual interest it was agreed to promote long-term research and development and innovation cooperation between Finnish and Indian organisations.

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