Bio Business in Asia has seen exponential growth over the last few years but can grow even further through innovative approaches in fostering and cultivating new and improved methodologies opined Dr. Gurinder Shahi, CEO & principal consultant, Bio Enterprise Asia, at a CII organized seminar on the occasion of National Technology day. This seminar was part of the ongoing CII Mahabioyatra series.

In her opening address Dr. Swati Piramal, director Nicholas Piramal India Ltd welcomed Dr. Shahi and the delegates representing various sectors of the Bio Tech Industry. She went on to say that although the Indian Bio Tech industry had made rapid progress over the last few years, there were still a lot of areas that needed urgent attention. Animal testing was one area that she opined was critical to the progress of Biotechnology in the country. As head of the CII Mahabioyatra initiative, she said awareness through such seminars would bring about a change in mindset as well as help in the revamping of policies that would further help CII's cause through its Mahabioyatra.

Dr. Shahi is a leading expert on change management and strategic program implementation in healthcare and the life sciences. His experience includes work on life science technology assessment; strategic business planning; R&D and work process improvement; performance appraisal of joint ventures and strategic alliances; market strategy development; economic and policy analysis for health intervention; and evidence-based decision-making for investment and implementation.

His presentation outlined the scenario in the Asia Pacific region and looked at the changing trends and the opportunities that these presented. According to Dr. Shahi, Bio Business is a commercial activity based on an understanding of life sciences and life science processes which could be classified as Bio Medical, Agri Vet and Food, and Environmental/Industrial.

He urged the Indian Biotech industry to look for opportunities that could create value propositions through partnering leaders in technology and research. Further he added that branding, marketing and positioning were the key points in differentiating Indian companies from the competition. As Asia was a late entrant into the biotech market he felt that this late start had benefits wherein we could learn from the mistakes of the current leaders and we should capitalize on the mature scientific knowledge and technical base available. This late start too gave us the opportunity to partner with these leaders and further the growth that this industry has seen.

Dr. Shahi also added that a company should look at the gaps that its products plug in the market and a critical success factor was to have Smart people, with Smart Ideas, Smart Money to invest at the right time and right place, and smart alliances & partnerships with companies who have had success in this field. Quoting statistics Dr. Shahi said that Korea and Taiwan were the most successful in generating private entrepreneurial, investments for early stage development, Japan was most effective in generating spin offs from existing major enterprises, Australia was the most active public market for biotech, the most effective in attracting MNCs was Singapore and India was the most inviting for Venture Capitalists and Funding partners.

In conclusion he said that International Technology players were actively seeking strategic alliances in new product development, manufacturing, marketing and distribution alliances and urged Indian Biotech companies to be the next wave that reaches far beyond its current standing in the world market.