The Vice President graced the inauguration of the Biotech Startup Expo in Kathua along with the Union Minister of Science and Technology, aimed at fostering entrepreneurship and positioning the Kathua district as a burgeoning hub for innovative ventures. The nation’s strides in biotechnology are remarkable, with India emerging as the world’s third-largest startup ecosystem, surpassing even China in the number of unicorns. India’s robust internet penetration and extensive digital transactions play a crucial role in cultivating a strong research ecosystem for national progress.
This Expo featured over 200 delegates and 25 biotech startups showcasing innovations addressing local challenges using indigenous resources such as medicinal plants. Notably, the event saw increased participation from women entrepreneurs as well, with at least five women-led startups presenting their products and technologies. The one-day event included closed-door interactions with industry leaders, academia, scientists, entrepreneurs, and local public representatives, providing a platform for collaboration and knowledge exchange.
Biotechnology, as an emerging trend, holds immense potential in a region abundant with herbs and bio-products. Institutions like SKUAST (J), as well as biotechnology departments in other universities like SMVDU and Jammu University, must play a pivotal role in maximising the benefits through collaboration with the Biotechnology Park. Bioproducts, catering to health-conscious consumers worldwide, constitute a market worth billions of dollars.
The Biotechnology Park, which fosters startups, presents abundant opportunities for the youth of the region to engage with and capitalise on entrepreneurship. Scientists are at hand to guide them, and the diverse array of herbal treasures in the region awaits exploration. The neighbouring Himachal Pradesh and Punjab can also avail of the opportunities, along with Jammu and Kashmir.
India’s burgeoning startup ecosystem, marked by a transition from double to quadruple digits in the number of startups over the past decade, showcases the prowess of Indian youth. The Biotech Startup Expo in Kathua, graced by the presence of the Vice President and Minister alongside a constellation of biotechnology experts, serves as a significant event providing profound insights into startups and the available opportunities. With over 6500 startups and 75 bio-incubators established by the Department of Biotechnology (DBT) and Biotechnology Industry Research Assistance Council (BIRAC), the sector is emerging as a trendsetter, boasting a remarkable 29 per cent growth rate and a bio-economy surpassing $100 billion.
India’s ambition to become a top-five global bio-manufacturing hub and one of the top-10 biotechnology destinations globally hinges significantly on the rise of biotech startups, positioning Kathua as the nerve centre of these initiatives. This presents a once-in-a-lifetime opportunity for the youth of Jammu and Kashmir to seize with an open mind and outstretched hands. .
From: dailyexcelsior
URL: https://www.dailyexcelsior.com/biotech-revolution-in-jk/
