Bio Valley Incubation Council receives funding from Department of Biotechnology
- by Team ABLE - 11 Feb, 2019
Biovalley Incubation Council has raised its first round of funding from Department of Biotechnology on 5th of February 2019. BVIC is created as part of a vibrant sector specific eco system being nurtured at the Andhra Pradesh Med Tech Zone (AMTZ), Visakhapatnam, Andhra Pradesh. BVIC is India’s only dedicated innovation facility catering towards convergence technologies relevant to India.
Biovalley 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 Biovalley 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 health care sector
On the side-lines of Biovalley raising its first round of funding, Dr Jitendar Sharma, MD & CEO, AMTZ highlighted the long-lasting need for such a facility. Dr Sharma envisions BVIC would be the home to innovators across the milieu of the healthcare sector and also would lead to creation of high skilled jobs in this sector empowering the youth.
Biovalley Incubation Council has raised its first round of funding from Department of Biotechnology on 5th of February 2019.