Yesterday I was reading an article where it was written that Biotechnology revenue for India is going to reach to $2 Billion by year 2010, In India Department of Biotechnology (New Delhi) has taken many initiative for pooling up rich talent and provide platform for young budding entrepreneurs, Biocon (Bangalore based biotechnology company) also recently formed an alliance with Indian School Business (Hyderabad) and it was informed that Biocon is going to invest around $2 Million for developing new ventures and idea generation in the field of Biotechnology.
What we are not considering is that though we have fund allocation for start-ups but theses companies do need basic equipments for developing their Research and Development? Do we have companies in India which can supply used instruments or auction sites related to resale of the same?
This concept of reselling of used instruments is quite successful in United States and there are many companies which have developed in an around west coast in United states. Why don't we take initiative to develop this concept in India? These companies will not only support the development of more research companies but will lead to employment generation in our country where more than 10,000 Biotechnology graduates pass every year, let's strive to make India next Biotech Hub by year 2020 :)
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