{"id":19210,"date":"2024-01-22T14:28:14","date_gmt":"2024-01-22T14:28:14","guid":{"rendered":"https:\/\/thenftimes.com\/index.php\/2024\/01\/22\/odisha-biotechnology-policy-2024-gets-cabinet-approval-n-f-times\/"},"modified":"2024-01-22T14:28:16","modified_gmt":"2024-01-22T14:28:16","slug":"odisha-biotechnology-policy-2024-gets-cabinet-approval-n-f-times","status":"publish","type":"post","link":"https:\/\/thenftimes.com\/index.php\/2024\/01\/22\/odisha-biotechnology-policy-2024-gets-cabinet-approval-n-f-times\/","title":{"rendered":"Odisha Biotechnology Policy-2024 gets Cabinet approval &#8211; N.F Times"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>Bhubaneswar: The state Cabinet headed by Chief Minister Naveen Patnaik today gave its approval to the Odisha Biotechnology Policy-2024.<\/p>\n<p>With an objective of harnessing the potential of biotechnology towards the sustainable socio-economic development and giving boost to the Biotechnology ecosystem in the state, the Odisha Biotechnology Policy 2024 has been conceptualised with a number of key incentives, said Chief Secretary PK Jena soon after the Cabinet meeting. .<\/p>\n<p>Recognizing Biotechnology as a sunrise sector for Odisha, this Biotechnology Policy seeks to attract and bring investors and stakeholders together and empower them <strong>to <\/strong>create a flourishing biotechnology ecosystem in the state, he added.<\/p>\n<p><strong>The key objectives of the Odisha Biotechnology Policy 2024 are: \u00a0<\/strong><\/p>\n<ul>\n<li>To promote higher education, research and infrastructure development in the most promising areas of Biotechnology.<\/li>\n<li>To develop and strengthen supportive and vibrant ecosystem for Innovation, Incubation, Investment, Income, and Impact to build enterprises and industries.<\/li>\n<li>To realign academic excellence, skilling and capacity building to meet industry requirements.<\/li>\n<li>To promote product\/ process development, commercialization and IP monetization.<\/li>\n<li>To leverage breakthrough biotechnology innovations\/ knowledge for socio-economic development of the state.<\/li>\n<\/ul>\n<p>Biotechnology is a thrust sector in IPR-2022. Aligning with IPR-2022, Odisha Biotechnology Policy 2024 provides incentives taking into account the long gestation period and technology intensive activities of the sector.<\/p>\n<p><strong>Incentives provided under Odisha Biotechnology Policy 2024 include:\u00a0<\/strong><\/p>\n<ol>\n<li>The policy provides support for development of Biotech parks promoted by\u00a0state agencies or private sectors.<\/li>\n<\/ol>\n<p>\u00a0<\/p>\n<ol start=\"2\">\n<li>Biotechnology units shall be provided capital investment subsidy on actual\u00a0investment in plant and machinery.<\/li>\n<li>Soft loan assistance will be provided to large &amp; mega Biotechnology units operating in the state for setting up of production units in the key areas of\u00a0Biotechnology using high end technologies.<\/li>\n<li>As Biotechnology sector demands sophisticated technologies which may need\u00a0to be acquired and upgraded from time to time,, technology acquisition and\u00a0upgradation subsidy will be provided to eligible biotechnology units.<\/li>\n<li>Eligible Biotechnology units will be given the benefit of employment\u00a0generation Incentive which will be applicable only to employees engaged in\u00a0biotechnology based technical work.<\/li>\n<li>Reimbursement for registration of Patent, GI, Trademark and Design will be\u00a0applicable to the Biotechnology units operating in the state.<\/li>\n<\/ol>\n<p>7. Biotechnology units will be given financial assistance for obtaining quality certifications from \u00a0recognised institutions during the policy period.<\/p>\n<p>8. Eligible Biotechnology Units\/ Biotechnology Start Ups will be provided with financial assistance for showcasing their products or technologies in national or international events.<\/p>\n<p>A dedicated Directorate of Biotechnology shall be created for effective implementation, monitoring and evaluation of various functions envisaged in the policy for the development of biotechnology in the state.<\/p>\n<p>Government will constitute an Odisha Biotech Vision Group (OBVG) to act as a\u00a0think tank and advisory body on diverse policy related issues. The OBVG will be comprised\u00a0of professionals and experts from academia, research, industry, policy, administration,\u00a0finance and marketing.<\/p>\n<p>This policy will come into effect from the date as notified in the official Gazette of\u00a0Government of Odisha. It will remain in force for a period of 5 years or until it is\u00a0substituted by another policy, whichever is later, said the Chief Secretary.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><script>(function(d, s, id) {\n    var js, fjs = d.getElementsByTagName(s)[0];\n    if (d.getElementById(id)) return;\n    js = d.createElement(s); js.id = id;\n    js.src = \"\n    fjs.parentNode.insertBefore(js, fjs);\n  }(document, 'script', 'facebook-jssdk'));<\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bhubaneswar: The state Cabinet headed by Chief Minister Naveen Patnaik today gave its approval to the Odisha Biotechnology Policy-2024. With an objective of harnessing the potential of biotechnology towards the sustainable socio-economic development and giving boost to the Biotechnology ecosystem in the state, the Odisha Biotechnology Policy 2024 has been conceptualised with a number [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[69],"tags":[],"class_list":["post-19210","post","type-post","status-publish","format-standard","category-states"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/19210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/comments?post=19210"}],"version-history":[{"count":1,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/19210\/revisions"}],"predecessor-version":[{"id":19212,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/19210\/revisions\/19212"}],"wp:attachment":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media?parent=19210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/categories?post=19210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/tags?post=19210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}