Telangana’s Genome Valley nurtures startups into MNCs
The ecosystem at Genome Valley facilitates many startups and R&D centres to emerge at the national and international levels
Hyderabad: Genome Valley, Shamirpet – the epicentre of life sciences in Telangana, is not only hosting many leading companies but is nurturing several startups and Research and Development centres to evolve into multinational companies. The ecosystem at Genome Valley facilitates many startups and R&D centres to emerge at the national and international levels.
In tune with leading companies, there is space for startups or small and medium enterprises to make a mark. There are companies, which started their journey in a small way and have now expanded their operations to different countries. Laurus Labs is one such company.
Laurus Labs commenced its operations in about 1,000 sqft at the IKP Knowledge Park in Genome Valley. After achieving tremendous success as a startup, the company has now set up its own R&D centre and has over 200 plus process patents, says GVVS Prasad, vice-president (Operations) IKP Knowledge Park.
Similarly, Bharat Biotech, which was the first company to commence its research at Genome Valley, launched the Covaxin vaccine from here. Right from research, production and even packing, all the procedures have been completed at Genome Valley and the vaccines are now being sent across the globe.
IKP Knowledge Park is a not-for-profit incubator and any startup involved in healthcare, agri, bioenergy and other sectors can approach the IKP Park. After acquiring a small space of about 1,000 sqft in the park on nominal rent, startups will be extended all assistance, including sharing lab equipment for research activities.
“We provide high-quality innovative service, space and other facilities to innovation-based companies and entrepreneurs to develop and stimulate innovation ecosystem,” says GVVS Prasad. The Life Sciences Incubator has about 20,000 sqft of wet lab space and the Catalyst SME Hub has about 75,000 sqft of wet lab space both at Genome Valley.
The advantage Genome Valley extends to startups is the ecosystem. If the ideas and research of the startups grab the attention of a company and a deal is struck, they can seek space at Genome Valley and set up their own company. With the existing infrastructure, right mentoring and support extended, companies can commence operations without any delay. There have been several examples of startups or small and medium enterprises, which are contract research organisations and have grown into MNCs. With space at Genome Valley getting occupied, many companies are now searching for land in the neighbourhood, says a representative of the company conducting operations in Genome Valley.
