Bhubaneswar: The Odisha government is likely to launch a new ‘Odisha Biotechnology Policy, 2016’ during the ‘Make in Odisha’ conclave to tap the potential of state’s biotechnology sector.
The conclave is scheduled to be held in Bhubaneswar on November 30.
The biotechnology policy is being formulated by the science and technology department in consultation with industries department and experts.
The government has prepared a draft of the policy which will get its final shape before November, sources in the science and technology department said.
The policy seeks to help Odisha emerge as one of the top five ‘bio-tech hubs’ in the country for biotechnology investments by creating an enabling environment through strategic partnership initiatives, industrial infrastructure development, investment assistance and policy intervention.
Under the policy, the state government will set up a biotechnology fund with an initial corpus of Rs 25 crore. The fund will be utilized for investments and promotional activities in biotechnology sector in the state.
Besides, the state government has also decided to utilize Rs 100 core Industrial Infrastructure Development Fund (IIDF) for developing infrastructures in this sector.
For firms keen to invest in the sector, the state government will give land on priority and will reimburse power cost at Rs 1 per unit for five years from the date of operation or manufacturing or production.
Besides, one-time grant up to Rs 2.5 crore will be provided to universities and institutions for setting up or upgrading ‘Biotech Centre of Excellence.’
“The new policy will offer scope for use of biotechnology in many sectors including in food processing, commercial production of antibiotics, research in cellular, biology, genomics, RNA interference, establishment of cell lines in medical biotechnology, sperm banking facilities for maintenance and propagation of superior quality livestock in animal biotechnology sector,” officials of the science and technology department said.