Bio Valley Incubation Council receives funding from DBT

The Department of Biotechnology has granted undisclosed amount of funding to the Bio Valley Incubation Council for boosting the skill development in medical technology sector

Image for representational purpose only.

Visakhapatnam: Bio Valley Incubation Council raised its first round of funding from Department of Biotechnology on 5th of February 2019. The Council that has been created as part of a vibrant sector specific eco system, is being nurtured at the Andhra Pradesh MedTech Zone (AMTZ), Visakhapatnam, Andhra Pradesh. As per the AMTZ officials, BVIC is India’s only dedicated innovation facility catering towards convergence technologies relevant to India.

Bio Valley has created a platform to incubate emerging ideas in the fields of wearable technologies, IoMT, Nutratech, Biotech and AI. This will integrate healthcare sector efficiently to bring down un-addressed stress on system and individuals on out of pocket expenditure. Innovation being the key to achieve a breakthrough in the health care sector, creation of incubation avenues such as Bio Valley incubation council will pave way for emergence of a new health care sector powered by Indian innovations that would help the masses. This would also greatly reduce the import dependency in the healthcare sector, stated the release from AMTZ.

On the side-lines of Biovalley raising its first round of funding, Dr Jitendar Sharma, MD and CEO, AMTZ  highlighted the long lasting need for such a facility. Dr Sharma said that he envisions BVIC as the home to innovators across the milieu of the healthcare sector and it would lead to creation of high skilled jobs in this sector empowering the youth.