The Hyderabad-based ICICI Knowledge Park has set up a life sciences incubator to enable teams of researchers to carry out life-sciences research. Research groups, which lacked access to high standard labs, can make best use of this incubator, Deepanwita Chattopadhyay told Pharmabiz.

Of these eight labs, four labs will be exclusively for biotech and remaining are chemistry incubators. The incubator also houses common facilities such as Wash Autoclave and Drying Room. An instrumentation room is also set up within the incubator.

The incubator has been set up with an investment of about Rs 30 million, of which the department of science and technology, Government of India has funded about Rs 19 million. As the funds required to set up the incubator has been small, it could be set up in a short period, Deepanwita added.

The incubator was formally inaugurated by prof VS Ramamurthy, secretary, Department of Science and technology, on Sunday. The ICICI Knowledge Park is a partnership between ICICI Bank Limited and the Government of Andhra Pradesh.

It may be noted that the department of biotechnology (DBT) has also sanctioned Rs 20.05 crore for the India's first biotechnology incubator centre (BTIC) to be set up at Shapoorji Pallonji Biotech Park Hyderabad, being implemented by the Institute of Chemical Technology (IICT).

The BTIC will provide assistance to start-up biotech companies. The biotech incubator will provide opportunities in areas of enzymes, organic intermediates, antibiotics, recombinant proteins, biopharma products, primary and secondary metabolites and biospecialties.

R&D and industry relations are likely to grow through these incubators they play a key role in developing new ideas and making those ideas viable.