image credit- pib
In a significant step towards strengthening technology driven collaboration, Microsoft co-founder and philanthropist Bill Gates, currently on India visit, called on Dr Jitendra Singh, Union Minister of Science and Technology, and held detailed discussions to expand private sector and startup participation in India's innovation push and biomanufacturing surge.
The meeting, assisted by delegations from both sides, covered advancement in gene therapy, vaccine innovation, biotechnology manufacturing, and India's evolving startup ecosystem.
A key topic of discussion was India's biotechnology startup boom, with over 10,000 startups now operating in the sector. Dr Jitendra Singh pointed out that 70% of these are focused on medical and health biotech, with the rest contributing to agriculture, environment, and industrial biotechnology. He underlined the government's commitment to scaling up these innovations, with increased funding and policy measures aimed at enabling faster commercialisation.
Gates and Dr Jitendra Singh also explored opportunities for direct investments in Indian biotech startups through Gift City, a financial hub designed to facilitate global investments. Gates noted that while the Bill & Melinda Gates Foundation primarily operates in the philanthropic space, leveraging new financial structures could enable direct investments into promising Indian startups.
