Dr Kiran Mazumdar-Shaw, CMD, Biocon (Photo Courtesy: www.wipo.int)
The conference is a one-stop platform for lifescience organizations, investors and bankers, offering them a panoramic view on the emerging investment opportunities in the lifesciences sector.
Addressing the conference delegates and Biotechnology Student Entrepreneurship Teams (BEST) participants, Dr Kiran Mazumdar-Shaw, CMD, Biocon, delivered her presentation on the theme ‘Enabling an Efficient and Effective Research and Development Ecosystem in India'.
"Our recent Indian Mars mission's success shows our ability to be globally relevant and at the same time delivering scientific advances at lower costs. We need a winning attitude and a belief in ourselves that we can do great science in this country. However, it is not about ‘me-too' research, but rather it's all about path-breaking research," she began.
Dr Kiran pointed out the critical components in a research ecosystem. "It starts with the academic research institutes. It is all about the symbiotic relationship between the academia and industry. Each component rely on each other to keep building that ecosystem. Unfortunately, in India, this critical component doesn't exist. Hence most researches die away within the walls of the laboratories," she opined.
The lab-to-market journey is a virtuous cycle, held Dr Kiran. "Academic research is about conceptualizing new ideas and discovering new ways of doing things. This academic research is supported by public funds. For academic research to be productive, we need to get people interested in it and take the ideas to proof-of-concept (PoC) stage. This is where young start-ups have an important role to play. So this is about creating accretive value to that concept. Funding for the proof-of-concept level has to come from various funding schemes offered by BIRAC and others. It is also important to find angel investors at this stage," she explained.