BioSpectrum Biotech CEO Summit
|N Suresh, editor, BioSpectrum, Kapil Sibal, minister of state for science and technology and Pradeep Gupta, managing director, CyberMedia (India) Ltd at the Summit.|
India has a biotech agenda. "To be a $5 billion industry by 2010." To make this possible all the stakeholders of this sector need to have a common goal. The government, industry, academia, public research, and funding agencies all need to work hand in hand. They need to be competitive, collaborative, and cohesive. They need to strike the right balance between public welfare and company welfare.
BioSpectrum, in its efforts to promote the biotech industry, launched "Biotech CEOs Summit", a first of its kind platform in India to bring together the various stakeholders of the biotech industry to a common fold. Conceived as an annual feature, the first ever "Biotech CEO Summit" was held in Hyderabad on September 23, 2005. Over 60 CEOs, heads of top biotech research centers, policy makers and VCs from across the country participated in the daylong event discussing the "The Strategy to Achieve the $5 Billion Revenue Target by 2010."
The Union Minister of State for Science & Technology and Ocean development, Kapil Sibal, inaugurated the maiden "Biotech CEOs Summit". He shared candidly the thinking of the government, the progress that it was making, the expectations that the government has, and how he wishes to take forward the dream of "$5 Billion Biotech Industry by 2010" a reality. Sibal also engaged himself in a cross talk with the industry.
After the inauguration, industry leaders explored the theme in detail through four panel discussions. The Panels deliberated on:
The Research Road Map: Fostering Industry-Academia Partnerships
Leveraging India's BioPharma Strengths through Global Partnerships
Making India the "Hub of Global Clinical Research" and "Biotech Laboratory of the World"
India's role in feeding the world through transgenic crops
In the ensuing pages, we present the key messages, suggestions, and action points that have come out during the discussions for the benefit of the industry as a whole. The take away clearly from the Summit deliberations was that "things are falling into place". And the challenge now is moving forward. BioSpectrum identifies the 'to-do' list for the industry and government.
Three Things the Industry should do:
United biotech front through collaborations and alliances, emphasis on affordability of biotech products
Healthy competition and self regulation
Sell the "India Biotech Story"; every CEO is an Indian Biotech brand ambassador
Three Things the Government should do:
Efficient regulatory system, harmonized international standards and financial support to early-stage biotech start-ups
An Indian Bayh-Dole Act to spur innovations in biotech research in academia
National and global awareness campaign to promote the " Indian Biotech Advantage" in manufacturing, clinical trials and research. Support to biotech companies for participation at global events.