Microsoft co-founder Bill Gates with Union Minister Dr Jitendra Singh in New Delhi today.
New Delhi: Taking a step towards strengthening technology-driven collaboration, Bill Gates, the co-founder of Microsoft and a prominent philanthropist currently on a tour of India, today met with Union Minister Dr Jitendra Singh to discuss ways to increase private sector and startup involvement in India’s innovation efforts and the growth of biomanufacturing.
A significant point of discussion was the rapid growth of India’s biotechnology startup scene, which now boasts over 10,000 startups. Dr Singh mentioned that 70% of these startups are dedicated to medical and health biotech, while the remainder focuses on agriculture, environmental, and industrial biotechnology. He reaffirmed the government’s dedication to enhancing these innovations through increased funding and policy initiatives aimed at accelerating commercialization.
The meeting, which included representatives from both sides, delved into topics such as gene therapy advancements, vaccine innovation, biotechnology manufacturing, and the dynamic startup ecosystem in India.
Bill Gates commended India’s progress in biotechnology, recognizing its pivotal role in vaccine development, including collaborations that produced the HPV and COVID-19 vaccines. He expressed a desire to assist India in addressing diseases such as tuberculosis and malaria, emphasizing that India’s research landscape offers vast potential for global health advancements.
The Minister highlighted a significant rise in biotech innovations in India, supported by initiatives like Bio E3—biotechnology for the economy, employment, and environment. He noted the increasing influence of private companies and startups in propelling India’s bio-revolution, facilitated by structured support from the Biotechnology Industry Research Assistance Council (BIRAC).
Gates and Dr Jitendra Singh discussed potential avenues for direct investment in Indian biotech startups via Gift City, a financial centre aimed at attracting global investments. Gates emphasized that although the Bill & Melinda Gates Foundation mainly functions within the realm of philanthropy, utilizing innovative financial frameworks could pave the way for direct investments in promising startups across India.
As India propels its biotechnology sector forward, Dr. Jitendra Singh reiterated the government’s commitment to nurturing public-private partnerships to sustain the industry’s growth. With enhanced funding for research and development and a focus on international collaborations, India is on track to establish itself as a leading centre for biotechnology innovation worldwide.
– global bihari bureau
