Bhubaneswar: The State Cabinet has approved the ‘Development of Biotechnology’ scheme, aimed at harnessing the state’s rich biodiversity and promoting biotechnology for societal welfare. Odisha’s diverse ecosystem and skilled workforce make it an ideal hub for biotechnology development.
The scheme recognizes the state’s potential and seeks to foster collaboration between industry, academia, and research to benefit society and open up opportunities for biotechnology applications across various sectors. With the Odisha Biotechnology Policy 2024 in place, the scheme will provide incentives to develop advanced infrastructure for product and service development.
The ‘Development of Biotechnology’ scheme is an umbrella program comprising 17 sub-schemes/programs, with objectives to promote higher education, research, and infrastructure development in biotechnology, develop a supportive ecosystem for innovation and entrepreneurship, and realign academic excellence to meet industry requirements.
The scheme will be implemented over five years, from 2025-26 to 2029-30, with an estimated cost of Rs 1113.50 Crores. It aims to position Odisha as a knowledge-driven bio-economy, contributing significantly to the state’s overall economic growth and socio-economic development.
By promoting biotechnology development, the scheme is expected to leverage breakthrough innovations for the state’s benefit, promote product development and commercialization, and create a vibrant ecosystem for innovation and entrepreneurship.
