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Follow UsNarayan Kulkarni
MUMBAI: Speaking to BioSpectrum, Alok Gupta maintained that Rabo India has
initiated a move in this direction by working with Maharashtra Industrial
Development Corporation (MIDC) for a Biotechnology park at Hinjawadi near Pune.
Public-private partnership is a best way for the growth of biotechnology
industry in the country, said Alok Gupta, associate director, Head Life Sciences
& Biotechnology, Rabo India Finance Pvt Ltd.
Since the biotechnology is niche and is in nascent stage in the country, he
said, venture capital funds are ready to take risks. At present the funds are
looking at growth investments, he said and added that proper policy
implementation will definitely bring in more funds to support the biotechnology
industry in the country. He also observed that state governments should have to
come out with more incentive packages instead of making noises.
Besides government funding, big pharma companies have to take initiatives by
offering projects to the SMEs on contract basis. Agreeing to the fact that
biotechnology companies are struggling for their second round of funding, he
pointed out that going in contract projects with overseas firms will definitely
bring some relief to these companies.
| Applications for funds dropped In the last couple of years, the number of applications for funding the biotechnology ventures has dropped drastically, said Alok Gupta, associate director, Head Life Sciences & Biotechnology, Rabo India Finance Pvt Ltd. Earlier Rabo India used to receive 2-3 proposals a week. But now the industry has understood the hard realities. Inspite of many market risk factors, he said, Rabo India has been funding 15 pharma companies for their different activities like clinical trials, discovery process, healthcare sectors etc. For SMEs, he said, Rabo India is providing advisory services in order |
(CNS)