Australia’s Victorian State Premier Jacinta Allan, Dr. Jitendra Kumar, MD BIRAC, La Trobe University VC Prof Theo Farrell and Michelle Wade, Victoria’s Commissioner to South Asia, after the signing of the Letter of Intent for establishing the corridor. | Picture credit: Official website of La Trobe university (latrobe.edu.au)
Australia’s La Trobe University and India’s Biotechnology Industry Research Association Council (BIRAC) have today signed a Letter of Intent (LOI) to establish a Bio Innovation Corridor to support the development of research and innovation.
La Trobe University has partnered with tertiary institutions and organisations on projects that benefit both countries. The Bio Innovation Corridor between India and the Australian state of Victoria will open access and provide landing pad opportunities to entrepreneurs, startups and researchers from both countries.
The LOI will enable La Trobe and BIRAC to scale up and foster collaboration with knowledge-based technologies and ideas leveraging biotechnology, with applications in agtech, food tech, medtech, and for human health and wellness purposes.
La Trobe University Vice-Chancellor Professor Theo Farrell said: “This new partnership will offer the skills, infrastructure and capabilities of La Trobe University to Indian startups, entrepreneurs and researchers that have ideas and technologies that can be scaled up for applications and commercialisation in Indian and Australian markets,” Professor Farrell said.
“Here, promising start ups, entrepreneurs and corporates from India can establish their R&D, innovation, product development and commercialisation facilities in conjunction with La Trobe through a range of innovative business partnership models.” The LOI was signed by Prof Farrell and Dr. Jitendra Kumar, Managing Director of BIRAC, during the Victoria Connect event, which was attended by Victorian Premier Jacinta Allan.
Premier Allan said Victoria was a prime location for both international students and collaboration on important research and innovation.
“The agreement between La Trobe University and BIRAC offers immense opportunities to entrepreneurs and researchers from India through access to La Trobe’s world-class facilities at its campuses in regional Victoria and Melbourne,” the Premier said.
Dr Jitender Kumar from BIRAC said: “The Bio Innovation Corridor will open new avenues for entrepreneurs by fostering cross-border collaboration and leveraging our collective expertise..” La Trobe recently launched a purpose-built Bio Innovation Hub (BIH) that will help startup companies develop new technologies in med tech and drug delivery.
“Facilities like the Bio Innovation Hub and our Digital Innovation Hub are opportunities where Karnataka-based startups and new technology players will be encouraged to co-locate and work in a vibrant biotechnology-based ecosystem for building their businesses,” Professor Farrell said.
The Biotechnology Industry Research Assistance Council (BIRAC) is a not-for-profit, Public Sector Enterprise set up by the Department of Biotechnology under the Ministry of Science and Technology, Government of India. BIRAC’s mandate is to strengthen and empower emerging Biotech enterprises. BIRAC through Public Private Partnership has taken up a multitude of activities from providing funds for high-risk translational research, supporting nascent ideas, capacity building through creating bioincubation centres as shared infrastructure, handholding through mentoring and training, to policy advocacy for empowering the biotech ecosystem in India.
Located in Melbourne, Australia, the La Trobe University works collaboratively across disciplines and with partners to develop fresh ways of thinking and conducting research – constantly seeking new ways to engage with and better serve its partners and communities, to build relationships and develop solutions for the issues facing society.
Published – September 19, 2024 06:29 pm IST
