Addressing presspersons on the details of the event, Dr BS Bajaj, chairman of AIBA - Southern Chapter said that apart from Indian companies, about 26 overseas companies from the US, Israel, Japan, Australia, Korea will be participating in the event.
Describing the scenario, India's biotechnology market is currently estimated to be worth $2 billion with a minimum growth rate of 20 per cent. The industry is expected to grow to $4.9 billion by 2005. Agricultural biotechnology accounts for nearly 33 per cent of the total Indian industry.
India is yet to tap the global market. About 5,000 biotech companies are present in the world, out of which 2,000 companies are in the US. In India, there are about 200 companies, out of which 75 are in Hyderabad, Dr Bajaj said. The event will provide a platform for improving the Indian biotechnology sector, he added.
The event is organised in two parts - international conference on investment opportunities in biotechnology and international interactive meet for alliances in biotechnology. The focus areas of collaboration will cover recombinant DNA products including enzymes, vaccines, hormones, blood products, prebiotics, cell therapy, molecular modelling, drug design, proteomics, genomics and other relavant segments.
Spread over 7 sessions, the topics of discussion would include enterpreneurship in biology, opportunities ahead, process development in biotechnology, contract research, IPR issues, Vitamin D Analogs in drug development and policies and legislations in biotechnology.