NCBS-TIFR which houses the Bangalore Life Science Cluster for advancing modern biological research, has created an Endowment Fund. The Centre intends to garner Rs. 25 crore for this endowment fund to commemorate its silver jubilee this year. Biocon chief Kiran Mazumdar-Shaw has provided Rs. 5 crore as endowment funding support.
According to NCBS, this generous and much-needed boost is to seed this Fund directed towards the growth of its scientific capabilities. It is a member of the Bangalore Life Science Cluster, a unique ecosystem for biological research. Three premiere institutions including NCBS-TIFR, the Institute for Stem Cell Biology and Regenerative Medicine (inStem) and the Centre for Cellular and Molecular Platforms (C-CAMP) are together creating opportunities at the cluster for a range of research activities from basic biology to application-oriented biotechnology.
Most of the world's top research institutes further their work through a mixed portfolio of conventional and unrestricted support. Endowment funds at organizations worldwide provide significant support to their activities. NCBS-TIFR aims to eventually build, by the year 2020, a significant corpus to provide flexible support for research in a dynamic environment.
Dr Mazumdar-Shaw’s donation towards the Endowment Fund at NCBS-TIFR is one in perpetuity. The fund will remain intact as a core investment, with only the interest being used for various activities, the foremost being the advancement of promising but bold research projects. In particular, the fund will support early stage research and innovation deemed too risky for conventional funding mechanisms, national and international collaborations and outreach of research for societal impact.
“India needs more such science incubators that allow the flourishing of a vast number of start-ups that are small, nimble and innovative in translating basic biology into application-oriented biotechnology to address the country’s myriad challenges. NCBS-TIFR and the Bangalore Life Science Cluster provide an ideal template for science incubation in India through advanced laboratories, supportive infrastructure for scale-up and commercialization, and an ecosystem that enables seamless transfer of knowledge into practical, biotechnology-based commercial solutions. I hope the fund catalyzes young scientists to focus on cutting-edge research that can transform lives.” said Kiran Mazumdar- Shaw, chairperson & managing director, Biocon.
“Kiran’s contributions as a pioneer biotechnologist and entrepreneur are without parallel in Bengaluru. Helping to create the Endowment Fund at NCBS-TIFR and the Bangalore Life Science Cluster, she provides another example of her proactive engagement with the ecosystem of biological sciences and technology in Bangalore”, said Prof Satyajit Mayor, director of NCBS-TIFR and inStem.
“As a signatory to the giving pledge, the Biocon chief has made a genuine effort to give back to the scientific community and create new opportunities. Recognizing that support for the Endowment Fund at NCBS-TIFR is a long term investment in building an environment of international repute in Bengaluru based on basic and translational research, is a big step towards this goal,” he added.