Karnataka Biotechnology Policy 2024-2029
– Operational Guidelines
Karnataka has been at the forefront of biotechnology in India and is rightly known as the biotech capital of India. Over the years, the development of a strong ecosystem and modern infrastructure through a proactive policy framework enabled Karnataka to achieve sustainable development and become the flag bearer of India’s biotechnology growth. Bengaluru, Karnataka’s science capital and Asia’s fastest growing technopolis, has developed into an ideal base for the biotechnology industry.
Department Of Electronics, Information Technology and Biotechnology, Karnataka has released comprehensive operational guidelines for implementing its new Biotechnology Policy 2024-2029.
The guidelines details the executional framework for fiscal incentives and concessions designed to catalyze the state’s biotechnology sector.
The document provides essential information on:
1. Detailed eligibility criteria
2. Application processes
3. Approval mechanisms
4. Incentive structures
5. Compliance requirements
Subsidy and reimbursement amount shall be released/disbursed on seniority basis depending upon the budget allocated under the Policy by the State Government, during the respective financial year.
The Department will put in place required mechanisms that will provide for a conducive environment for application, review, approval and disbursement of these incentives.
This release marks a significant step in Karnataka’s strategic initiative to establish itself as a global biotechnology hub, with a targeted bioeconomy valuation of $100B by 2030. Organizations interested in accessing these benefits can now submit applications through the official portal.
The guidelines ensure transparency and streamlined processing for all stakeholders.
Note: Registration under Karnataka Biotechnology Policy is compulsory to avail the fiscal incentive under policy period
To Register under Karnataka BT Policy, click the link – https://lnkd.in/gVNaYcuS
To access the OPG Document, please click the link – https://lnkd.in/gNyXaurF
To apply for incentives, please click the link – https://lnkd.in/gXSqap9x
