Biocon Chairman and Managing Director Kiran Mazumdar Shaw on Thursday pressed for setting up an alternative stock exchange to allow revenue-less innovative biotech companies to access capital markets.
"The alternative stock market would spur these companies to take their innovations from the proof of concept level to the commercial level as the government support is only up to the concept level," she told reporters here.
India can emulate the US in creating an alternative stock exchange like Nasdaq which has provided an exit route for venture capitals and platform for individuals to invest in innovative companies, Mazumdar added.
She said there is a huge potential for investments in biotechnology sector as there is lot of investments taking place in the sector.
The government could also introduce tax-free mechanisms to encourage individuals to invest in innovative companies, Mazumdar added.
Published 02 February 2012, 13:54 IST