New Delhi, Nov 6 : The Cabinet Committee on Economic Affairs (CCEA) today gave its approval for launching of a new scheme on Biotechnology Industry Partnership Programme - An advanced technology science scheme.
The scheme envisaged as a government partnership programme with industries for support on cost sharing basis for high risk discovery and innovation, accelerated technology development specially for futuristic areas.
An amount of Rs.350 crore has been earmarked for the scheme during the 11th Plan.
The scheme is aimed to increase the global competitiveness of Indian industry in new and futuristic technologies and enhance ownership of IP in these areas by Indian companies and scientists. It address major national unmet technological needs in agriculture, human health, animal productivity, energy and environment where expected social and economic impact is high.
It also aims to fulfill the biotech strategy objectives of 30 per cent of DBT's R and D investment in partnership with industry under BIPP support would be in four major categories.
The new scheme will be one of the enabling mechanisms to promote biotech industry R and D and public private partnership programmes.
The scheme provides for a government contribution of 30-50 per cent to the industry for discovery linked innovation. Under this advanced technology scheme, support would be provided only for futuristic areas, transformational technology and product development for public good.