Need for Entrepreneurship and Innovation: key to Development

Thursday, June 18, 2009: The post lunch session on Day 1 of Bangalore Bio 2009, India's premier Biotechnology event organized by the Department of Information Technology, Biotechnology and Science & Technology, Government of Karnataka, Vision Group on Biotechnology and MM Activ Sci-Tech Communications Co saw biotech industry honchos come together to discuss and showcase ‘Entrepreneurship’.

Dr. Swami Subramaniam, Director, Licencing and External Research-India, Merck & Co, chaired the session.

Dr. B.V.Ravi Kumar, Managing Director, XCyton Diagnostics Ltd, called entrepreneurship a journey to be enjoyed. Opening his talk by urging the youth to turn to entrepreneurship, Kumar emphasized on the immediate need for innovation in the pharmaceuticals sector saying, “Millions of children die from curable diseases due to lack of drugs”.

“The main problems faced by entrepreneurs in the pharmaceuticals sector are lack of product development, funding, regulatory authorities, and lack of government support, marketing and accreditation”, added Mr. Kumar.

Dr. K.K.Narayan, MD, Metahelix LifeSciences Pvt. Ltd, spoke about the importance of genetically modified foods and its importance in India. “In a country like India where we face a severe food crisis, there is a need for atleast four genetically modified foods.” He emphasized on the contribution of agriculture to the Indian economy and the need for its sustenance and growth.

Urging young entrepreneurs to assess their strengths and weaknesses, Dr. Supreet Deshpande, CEO, NovaLead Pharma said, “It’s important to ask yourself questions that others may ask you. Understand that you do not know everything and accept it. Believe in yourself and be open to criticism and suggestions.”

Source : Equity Bulls

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