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Indo-South Korean Biotech Innovation Ecosystem Collaboration

MOU

Press Release
Indo-South Korean Biotech Innovation Ecosystem Collaboration

Date: 9th July 2018
Venue: Connaught Hall, Hotel Royal Plaza,
19, Ashoka Road, New Delhi

Memorandum of Understanding (MoU) signed between the Government of India and the Government of the Republic of IMG_20180709_162925Korea in the field of Biotechnology, Bio-economy, Science and Technology at Hotel Royal Plaza in the presence of Dr Harsh Vardhan Hon’ble Minister for Science & Technology, Earth Sciences and Environment, Forest & Climate Change, Govt. of India and Mr. You Young-Min, Hon’ble Minister Science & ICT, Government of Republic of Korea. One of the major objectives of this MoU is to expand and develop bilateral/multilateral relations and cooperation in the field of Science and Technology and in the area of Biotechnology.

Honourable Union Minister Dr Harsh Vardhan acknowledged the network areas like agriculture, water, biofuel, bioeconomy and basic research during India-South Korea S&T Ministerial Steering Committee meeting. Honourable Union Minister further added that India has taken proactive steps in advancing bilateral cooperative relationship with South Korea.

Honourable Union Minister in his address during the Ministerial Steering Committee meeting mentioned that India can lead the newly developed economy in the world.

The present GoI has taken proactive steps to promote innovations, which are translative too.

South Korea’s Biotech Innovation Ecosystem is technically advanced and commercially well-established. It can potentially offer globally competitive products, technological platform, facilitation of innovative culture in Biotechnological field, relevant expertise and access to mature market opportunities in the area of Health, Pharma, Med-Tech devices, Industrial biotechnology, Food, Nutrition, Waste management, Cosmetics, Energy and allied areas.

There are Provincial Innovation Hubs that promote Bio incubation, Start-ups, SMEs, and operate with similar mandate. Some of the noticeable provincial examples include Gyeonggi, Busan, Seoul, Chungcheongbuk, Daegu etc. Like States in India, these provinces also compete with each other to reflect the impact of innovation, start-ups and SMEs in improvement in GDP, and growth of industrial sector.

Ministry of S&T, Government of India will consider engaging South Korea in research and development in the area of Biotechnology through collaboration between BIRAC and KHIDI and/or Provincial level similar agencies with the objective of providing a boost to our Biotech Innovation Ecosystem through:

  • Global competitiveness of Incubators, Innovator Start-ups and the ecosystem
  • Exchange of innovators into respective Bio-incubators & Bio-clusters.
  • Access to international experts, mentors and investment opportunities
  • Exchange of best practices in facilitating Innovators, Incubation centres, Research Parks
  • Allied areas of mutual interest.

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