ICICI Knowledge Park, set up to encourage research and development in all knowledge intensive fields with focus on pharmaceuticals technology, biotechnology and specialty chemicals, is attracting many players. During the phase I, about 10 laboratories had been operational since June 2000. In the second phase, 100 per cent laboratory space has been booked by seven companies. In the phase III, about 20,000 sq. ft of modular wet laboratory space is being developed.

A Life Sciences Incubation Centre has recently been set up in the park with an investment of Rs 3 crore with eight labs, of which four will be exclusively for biotech and the remaining labs will be for chemistry.

The Park's tenants include- Matrix labs, Krebs Biochemicals, GVK Biosciences, Anu's Laboratories, Sai Life Sciences, Bioserve Biotechnologies, Indigene Pharmaceuticals, Helvetica Industries, EPR Pharmaceuticals, Daewoong Pharmaceuticals, Mithros Chemicals etc,. The Park, located at Turkapally in Ranga Reddy district, near Hyderabad offers world-class infrastructure and support facilities for business-driven research. The Park is set up as not-for-profit company by ICICI Bank and supported by the technology-friendly State Government of Andhra Pradesh.

The park is recognized by Government of India, as a Scientific and Industrial Research Organisation (SIRO) and is entitled to full customs and excise duty waivers. Developed on an aesthetically landscaped 200-acre campus, the park allows tenants to build customised R&D centres in the modular units or land plots.