• Objective: Establish Karnataka as a global biotech leader with a target market value of $100 billion by 2030.
• Vision: “Focused transformation through impactful implementation.”
• Policy Duration: 2024-2029.

Key Objectives

1. Biotech Education & Skilling
   • Skilling programs to create a future-ready workforce.
   • Partnerships with 200 institutions to train 20,000 individuals in specialized skills.
2. Streamlining Regulations
   • Simplified biotech regulations for easier business setups.
   • Regulatory Sandbox to expedite innovation.
3. Support for Biomanufacturing
   • Aligning with health, climate, and energy goals.
   • Enhancing food security through biotechnology advancements.
4. Startup Ecosystem Support
   • Funding and mentorship for early-stage biotech startups.
   • Growth facilities and market access for mid-stage ventures.
   • Preferential procurement of local biotech products.
5. Research & Development
   • Focus on genomics, molecular biology, and commercialization of related innovations.
   • Encouragement of advanced research in fields like multiomics and antimicrobial resistance.

Goals by 2029

• Creation of 300 biotech companies, including 50 innovative firms.
• Generation of 30,000 high-quality jobs in the biotech sector.
• Training for 20,000 individuals in specialized biotech skills.

Key Pillars of the Policy

1. Skill Development: Preparing a workforce equipped with cutting-edge biotech expertise.
2. Regulatory Frameworks: Streamlined policies to facilitate business growth.
3. Biomanufacturing Support: Boosting production aligned with sustainable goals.
4. Startup Ecosystem: Scaling up startups and MSMEs.
5. Preferential Procurement & Sandbox: Promoting local products and enabling innovation trials.
6. Fiscal Incentives: Targeted concessions for startups, MSMEs, and large industries.

Focus Areas

• Bio-agriculture and bio-industrial applications.
• Marine and synthetic biotechnology.
• Medical devices, diagnostics, and AI/ML applications in biotech.
• Cell and gene therapies for rare diseases.
• Space biotechnology innovations.

Fiscal Incentives

• Applicable to various setups, including startups, MSMEs, and large industries.
• Incentive packages for innovative firms to stimulate growth and attract investment.