India is the Silicon Valley of the East: Dr Kiran Mazumdar

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Dr Kiran Mazumdar, CMD, Biocon

Bangalore hosted its first-day of the most anticipated three-day investors' event, Invest Karnataka 2016, a global meeting platform aimed at bringing biggest business minds and investors together to accelerate development through technology, innovation, inclusivity and sustainability.

In one of the parallel sessions on Biotechnology sector, Dr Kiran Mazumdar, CMD, Biocon, delivered a presentation talking about India as a global innovation hub for the Biotech industry.

She spoke about the exclusivity of Karnataka in the Biotech sector. "When I started Biocon, there were very few people who backed it up. It is not only Karnataka's rich human capital, but it has also created a very unique model - for every other State and other parts of the world - a close partnership between the industry, academia and the Government."

She pointed that Biotech is an innovative sector which needs risk-takers.

"Bangalore can boast itself as the Science and start-up capital because the city is full of first-generation entrepreneurs, which means you have plenty of risk-takers and this is enabling Bangalore to be the start-up capital of the country, not just in the IT sector, but also in Biotech. Innovation in Biotech starts with risk-taking. We need to ensure that innovation is unique, differentiating and path-breaking. This is what we expect start-ups to do, and we have large number of start-ups licensing their proprietary technologies to MNCs at premium values," she said.

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