CCEA approves Biotechnology Industry Partnership Programme

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New Delhi, Nov 6 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today gave its approval for launching of a new scheme called 'Biotechnology Industry Partnership Programme,' which is envisaged as a government partnership programme with industries, for support on cost sharing basis for high risk discovery and innovation and accelerated technology development, especially for futuristc areas.

Briefing newspersons on the outcome of the CCEA decisons this morning, Minister of State in the Prime Minister's Office Prithviraj Chavan said an amount of Rs 350 crore has been earmarked during the Eleventh Plan period for the scheme.

He said the new scheme will be one of the enabling mechanisms to promote biotechnology industry Research and Development and Public-Private partnership programmes.

The scheme provides for a government contribution of 30-50 per cent to the industry for discovery linked innovation.

Mr Chavan said under the advanced technology scheme, support would be provided only for futuristic areas, transformation technology and product development for public good.

The Scheme is aimed at addressing the following goals: --- To increase the global competitiveness of Indian industry in new and futuristic technologies and enhance ownership of Intellectual Property (IP) in these areas by Indian companies and scientists; --- To address major national unmet technological needs in agriculture, human health, animal productivity, energy and environment where expected social and economic impact is high; --- To fulfil the biotech strategy objectives of 30 per cent of Department of Biotechnology's R&D investment in partnership with industry.

UNI GS RP CS1540

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