Don't worry be happy for biotech

The limping biotech park project at Electronic City has got hold of a crutch. The state has decided to allot Rs. 6.5 crore for the park, though in the final analysis, the amount granted could be inadequate.

The biotech industry in Karnataka was hoping the park would be granted Rs 15 crore, but that demand wasn't met. "This is disappointing," says Biocon chairperson Kiran Mazumdar Shaw. "But I'm still sure the park will materialize soon. Also, I am pleased about the support given for science.

But considering that the department of biotechnology (DBT) has already granted Rs 15 crore towards this, the Rs 6.5 crore amount is reasonable. Avesthagen CEO Villoo Patell says it is important that the state releases the amount quickly. "Government needs to do more," Patell asserts. It will be good if they can provide concessions on service tax and make land available easily for expanding biotech companies."

The state acquired a 100-acre plot near Electronic City to house the park. But no significant work was carried out since. Though state biotech department officials claim many biotech companies have shown interest to set up shop, only a few have occupied it so far.

The biotech park attracted its share of controversy right from the start, not being able to find a suitable location. The initial location University of Agricultural Sciences - fizzled out with students and others mounting pressure on leaving the campus alone. The IT&BT department and Vision Group on Biotechnology scouted around for long, before finalizing the plot near Electronic City.