Like good wine, biotechnology sector takes its own time to mature and a long-term perspective is required to achieve success in this field, a top government official has said. Money alone cannot help foster innovation as the entire culture of the country needs to undergo a change, said MK Bhan, secretary, department of biotechnology. He was speaking at the 12th Bangalore India Bio conference which opened here on Monday.
“In India, there is a tendency to focus on careers that have high returns. Biotechnology is like a good wine. It will take its own time to mature. It is not a field where you can expect to make instant money. A long-term perspective is required,” Bhan said.
The government has spent a considerable amount of money in the past few years to foster research, but little progress has been made as people are risk-averse. “When the government gives us funds, there is expectation to distribute that money equally across the country. We always confuse equity and excellence. I would rather put money where there is a potential of excellence,” he said.
Kiran Mazumdar-Shaw, chairperson, Vision Group on Biotechnology, and chairman and managing director, Biocon, agreed with Bhan. “We have to stop focusing on budget. Even a small investment can bring about a big change. You can’t create excellence by making equitable distribution of wealth your top priority. If you spend money on mediocrity, there is nothing you will get out of it,” she said.
The importance of biotechnology can no longer be ignored by world economies. “We know the importance of biotechnology in the field of food shortages and environmental security. India has made great strides in developing vaccines for about 150 countries in the world. From being a net importer of cotton, we have become a net exporter of cotton, all thanks to biotechnology,” she said.
However, in order to become a serious player, a lot more needs to be done.
People have unrealistic expectations from the sector due to lack of understanding of the long regulatory procedures.
Bhan stressed the need for a regulatory training school in order to clear hurdles companies face while bringing their product to the market. Chief minister DV Sadananda Gowda said the state government is making additional efforts to help the sector move up the value chain.
“About 26% of biotechnology revenue of the country comes from Karnataka. The revised millennium biotech policy, which aimed at building necessary infrastructure, resulted in the formation of
12 BT finishing schools,” he said. “This model has been appreciated by other states across the country,” Gowda said.
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