Alexandria Inc to build knowledge park in Bangalore

Bangalore, Jul 12: Alexandria Real Estate Equities Inc on Monday laid the foundation stone for a Rs 500-crore knowledge park – scientific research and development cluster – for life sciences industry in Electronic City here.

“I hope that this Alexandria Knowledge Park with an investment worth of Rs 500 crore will further spur the growth of biotechnology sector in the State", the Chief Minister, BS Yeddyurappa, who laid the foundation stone, said.

Alexandria Knowledge Park, at 'Bangalore Helix' (Biotech Park of Bangalore), would be modelled around the Greenfield clusters already conceptualised and developed by Alexandria in Mission Bay, San Francisco, Technology Square in Cambridge, Boston and Alexandria Center for Life science at NYC.

Alexandria intends to introduce to Bangalore its global proprietary products such as Alexandria Innovation Centre (incubation Space), Science Hotel and Turn-key labspace. The development of the park would take place in phases, first of which is expected to be completed in 24 months.

He said with work starting for the bio-cluster, Karnataka has taken another step towards setting up a world class infrastructure for the biotech industry, R & D institutions and organisations engaged in BT-related activities.

About 26 per cent of the country's biotech revenues, particularly in terms of exports, are generated in Karnataka, home to about 52 per cent of the core biotech companies in the country, he said.

Yeddyurappa further said the Government has sanctioned 12 BT Finishing Schools, expected to produce industry-ready persons for employment in the biotech sector.

PTI