Bangalore: The biotechnology (BT) industry in the state is all set to get a boost as the government on Monday announced formulation of a new “liberal” biotech policy and establishment of a world-class incubation centre and common instrumentation facility.

Making the announcement at the inaugural of the 14th ‘Bangalore India Bio’ expo, Chief Minister Siddaramaiah said the incubator will be located in a state-of-the-art biotech park coming up in Electronics City. “The project of developing the biotech park, named Helix, is taking shape and it will be operational in about two years time,” Siddaramaiah said.

Helix, being developed by Alexandria Real Estates on 56 acres, will also be home to the country’s first bioscience and medical technology incubator, which will be set up by the state government with financial support from the Union government.

An impressive 3D walkthrough of the proposed incubation centre was presented by IT, BT and Science and Technology secretary Srivatsa Krishna. While the state government is pitching in with about `20 crore and land for the incubator, the Centre is contributing `20 crore, Krishna said.

Meanwhile, a Nutraceutical and Phytopharmaceutical Park is being planned in Mysore in collaboration with Central Food Technological Research Institute.

A feasibility study is also on for setting up an agri-biotech park in Dharwad with the University of Agricultural Sciences.

Change in Policy

The state government will  revisit the BT policy with inputs from the Vision Group on Biotechnology, headed by Biocon MD Kiran Mazumdar-Shaw, Siddaramaiah said.

“The first BT policy in the country was announced in Karnataka in 2001. Keeping in view the changing needs of the sector, a revised Millennium Biotech Policy Version-2 was brought out in December 2009. A Version-3 will be brought out this year,” he said.

Highlighting the progress achieved by the state in this sector, Siddaramaiah said about 26 per cent of the country’s biotech revenues, especially exports, are generated by the BT industry in Karnataka.

“The state is home to about 52 per cent of the core BT companies in the country. Of the top ten companies, five of them are in Bangalore,” he said.

IT, BT and Science and Technology Minister S R Patil said the new biotech policy would come with more stimulus measures.

“There will be liberalisation further. The biotech industry will have a right mix of sops and incentives. There will be prompt measures to support start-ups,” Patil added.