AI-Generated Summary

The Department for Promotion of Industry and Internal Trade (DPIIT) has signed an MoU with Thermo Fisher Scientific to significantly boost India's biotechnology sector. This partnership aims to support over 500 biotech startups within three years through strategic advisory, technology access, mentorship, and investor connections via initiatives like the BioVerse Challenge. The collaboration seeks to accelerate innovation and position India as a key global hub for biotech.

In a nutshell

This public-private partnership highlights a growing trend of fostering biotech innovation in emerging markets, crucial for global healthcare advancement. It underscores the importance of ecosystem development and startup support in driving future drug discovery and therapeutic breakthroughs.

Source: Lokmat Times