Karnataka government will announce its revised Millennium Biotech Policy in the first week of July. The announcement came in at the Bangalore Bio 2009 by Karnataka chief minister B S Yeddyurappa. The revamped biotech policy aims at bridging academia with the industry and look at initiatives in bio-fuel and renewable fuels.

"The state government is committed to providing an industry-friendly and business-friendly environment for the growth and development of knowledge-based industries. We are committed to maintain Karnataka's pre-eminent position in the biotechnology sector and the policy will address the requirements on these fronts," he added.

"The biotech sector which was growing at the rate of 35 to 40 per cent for the past few years is today facing a lower growth rate of 18 per cent. To infuse enhanced enthusiasm in the industry and make it more attractive for the industries to invest more, Karnataka Government will bring in a revised Biotech Policy within a month. Certain provisions of the Policy that are hampering the growth of the industry will be changed in the revised policy with an aim to help increased capacity building, fiscal incentives and concessions to the industry."

"In addition to giving incentives and concessions to industry, State Government is also boosting the academic activities in the state by way of allotting 1,500 acres of land at Chitradurga for the second campus of Indian Institute of Science. It is also looking at setting up a new agriculture university at Raichur and a horticultural university in Bagalkot," added Karnataka chief minister.

Karnataka was the first state in the country to announce the Millennium Biotech Policy in 2001. But over the year, there was a need for revision and efforts have been made to bring out the reworked policy.

According to Karnataka minister for IT and BT, Katta Subramanya Naidu, the state government has commissioned a Rs 16 crore R&D and Institutional Block comprising IBAB (Institute of Bioinformatics & Applied Biotechnology) and CHG (Centre for Human Genetics) at the Bangalore Helix in February this year. Selection process of private partner for the proposed Rs 300 crore Bangalore Biotech Cluster is in progress.