The Department of Biotechnology (DBT), Ministry of Science & Technology and Federation of Indian Chambers of Commerce & Industry (FICCI) have signed a Memorandum of Understanding for accelerating R&D investments in the biotech sector.

The MoU was signed at the inauguration of India R&D 2007: Innovation-Advantage India conference & exhibition in the presence of Kapil Sibal, Minister for Science & Technology and Earth Sciences. According to the Minister, there was a need to create and manage a mechanism titled 'Industry Platforms' under public-private partnership and the MOU would be a mile stone in this regard.

It was learnt that as per the terms of the MoU, DBT and FICCI had agreed to develop a suitable institutional structure that would be responsible for the governance and management of the Industry Platforms, which would chaired by Secretary, DBT.

"The unique feature of the platform will be that the steering committees of each platform will be led by the private industry. FICCI will manage all the activities of the "Secretariat" and also provide secretarial and administrative support to the Governing Board said Saroj K. Poddar, past president, FICCI.

He said that Industry Platforms were technology-based industrial groupings established with an aim of enabling the exploitation or dissemination of research results, encouraging public-private collaborations and providing their members with a means of voicing their opinion on research policies.

The subject was also discussed by some other speakers like Dr. T. Ramasami, secretary, DST; Sir Keith O'Nions, chief executive advisor, Department for Innovation, Universities and Skills, the UK and Dr. Richard C Adams, senior vice president- international partnerships, Battelle Laboratories, USA.