question on actual demand from the industry for graduates, she said "it is difficult to answer that- it is bit of a chicken and egg situation. If you had the talent pool you will have industries that will come in. You will have much more entrepreneurial companies being formed because of the right talent."
"As we don't have the right talent for now- we don't have enough industries formulating in the biotech space."
Adding to that she said "Biocon hires 1,000 new employees each year; we find it very difficult to get the right kind of students- it takes a lot of time to train these students to be industry ready. Out of 1,000 we hire almost 80 per cent are freshers."
The Biocon Academy will offer advanced learning in Biosciences that will provide the required proficiency for enhanced carrier prospects in biotechnology for engineering and science graduates, company officials said.
The Academy's 'Biocon KGI certificate programe in Biosciences'- in collaboration with Keck Graduate Institute (KGI), California will start its session in January 2014. KGI is premier American graduate institution, devoted solely to bioscience education and discovery.
To a question on money set aside by Biocon for the academy, Mazumdar-Shaw said "The infrastructure we have created is very high-end, our investment in just creating the infrastructure has amounted right now to about Rs 10 crore, in addition to that every year we will have to spend upwards of Rs five crore as part of administration cost.
"There will be academic cost, curriculum and faculty cost which is from KGI," she added.