<p>Home Minister V S Acharya said the policy recommends setting up a separate Bio-tech venture capital fund of Rs 50 crore and a Rs 100 crore for infrastructure development to spur the growth of sector.<br /><br />Another highlight of the policy, the minister said, is relaxing zoning regulations for setting up new firms. The new policy is guided by the Vision Group on Biotechnogy, chaired by Kiran Mazumdar-Shaw of Biocon India Ltd. <br /><br />The biotech policy of Karnataka was first formulated in 2001, when only 47 BT companies were there. Presently, as many as 187 venture companies are operating in Bangalore. BT companies in Bangalore contributes 50 per cent of total exports of the country, he added.</p>
<p>Home Minister V S Acharya said the policy recommends setting up a separate Bio-tech venture capital fund of Rs 50 crore and a Rs 100 crore for infrastructure development to spur the growth of sector.<br /><br />Another highlight of the policy, the minister said, is relaxing zoning regulations for setting up new firms. The new policy is guided by the Vision Group on Biotechnogy, chaired by Kiran Mazumdar-Shaw of Biocon India Ltd. <br /><br />The biotech policy of Karnataka was first formulated in 2001, when only 47 BT companies were there. Presently, as many as 187 venture companies are operating in Bangalore. BT companies in Bangalore contributes 50 per cent of total exports of the country, he added.</p>
