The Micro, Small and Medium Enterprises (MSME) sector has emerged as a dynamic sector of the Indian economy over a few years. It contributes significantly to the economic and social development of the country by encouraging entrepreneurship and generating large scale employment opportunities. As per an Industry Survey, the MSME sector in India has created 13.5 million to 14.9 million new jobs in the past four years (Source: CII’s Survey on Jobs Creation and Outlook in MSME Sector). Also, another industry report suggests that the contribution of the MSME sector to the Indian economy is around 29% of the GDP.
With the growing prominence of the MSME sector in the Indian economy, The Ministry of Micro, Small and Medium Enterprises, Govt of India has partnered with the Government of Telangana for BioAsia 2020 again to help MSME organizations benefit from this global platform. Given that the MSMEs contribute to over 80% of the Indian Lifesciences industry and has been an important pillar for the job creation, the partnership is of extreme significance aimed at adding impetus to the growth of MSME sector in the country.
BioAsia has evolved as a pre-eminent global meeting benefitting from its extraordinary participant history including Nobel Laureates, Lasker Awardees, Breakthrough Prize winners, established scientific and industry leaders, amongst others. Switzerland will be the partner country, while delegations from various countries like Germany, Spain, Australia, UK, USA, China, etc. will participate in the event. MSME companies will gain unparalleled access to explore new business opportunities with leaders representing about 50 Countries.
Commenting on the rising sector’s participation, Mr. Jayesh Ranjan IAS, Principal Secretary, Industries & Commerce, and Information Technology, Government of Telangana said, “Micro, Small and Medium enterprises are one of the most important pillars of the economic growth of the country and is rightly called as ‘The engine of the growth’. MSMEs have played a significant role in terms of creating employment opportunities along with innovation. BioAsia which has emerged as one of the highly regarded platforms in the life sciences sector will bring together the cutting-edge, innovative and technologically oriented MSMEs from the realm of life sciences and healthcare sectors. We are delighted to partner with Ministry of MSME for the second time for BioAsia and am confident that the platform will help MSMEs companies.”
Objectives of the partnership
• To provide a platform for the MSME sector to showcase the strength and capabilities of Indian MSME companies to the global life sciences fraternity
• Offers unique marketing opportunities to MSME Entrepreneurs including access to diverse technologies
• Offers a platform to establish joint ventures, tapping into crucial supply chain partnerships, technology transfers, marketing arrangements and image building of Indian MSMEs across the world
• To foster awareness regarding international best practices that enhance their business prowess
• To provide a platform for MSMEs in understanding emerging global trends and learn about ways to safeguarding their innovation (Intellectual Property)
• To enhance marketing avenues for MSMEs by way of capturing new markets and expanding in existing markets.
BioAsia 2020 is set to host eminent global leaders from the life sciences industry including Mr. Vas Narasimhan (CEO, Novartis), Dr. Carl June (University of Pennsylvania & CAR-T Expert), Dr. Peter Piot (Director, London School of Hygiene and Tropical Medicine, and Co-Discoverer of Ebola), Mr. Ajay Piramal (Chairman, Piramal), Mr. Dilip Sanghvi (Chairman, Sun Pharma), Mrs. Kiran Mazumdar Shaw (CMD, Biocon), Mr. Satish Reddy (Chairman, Dr. Reddy’s), among others.
About BioAsia: BioAsia is born with a vision to enhance, enrich and encourage newer innovations, path-breaking discoveries and effective solutions in the biotechnology industry by offering a vibrant global platform for convergence of the key stakeholders – Biotech &Biopharma Companies, research institutions, academia, investors, service providers, policymakers, regulators, and analysts. BioAsia is focused in its efforts – to drive the growth of the industry by enabling an effective environment for fostering collaborations, JV’s M&A’s; ensure knowledge and experience sharing by global industry players to benefit all stakeholders; promote innovations and initiatives through appropriate awards and recognitions; play a pivotal role in advocating issues to the policymakers and chartering the road-map of biotechnology. BioAsia is a dynamic platform for companies -to exhibit, launch and showcase their unique strengths, products, and services. BioAsia is playing the role of a key catalyst in mobilizing all elements that are required to drive the growth of the emerging industry of Biotechnology as well as optimize the immense business potential of biotech. On a larger level, BioAsia is working to drive a global transformation from the treatment of illness to wellness.
About FABA (Federation of Asian Biotech Associations): The Federation of Asian Biotech Associations [FABA], is a non-profit registered society engaged in various activities related to promoting Biotechnology in Asian countries. FABA, headquartered at Hyderabad made its humble beginning in 2004 and has achieved a significant landmark in creating a common platform for interaction among member countries and discuss the issues of common interest for improving the biotech space including Technology Transfer, resource sharing, business collaborations, Industry-Academia linkage, cross border trade, and investments, etc. among its member countries., FABA has a strong network base in 20 Asian countries including China, India, Bangladesh, Malaysia, Philippines, Russia, Kazakhstan, Pakistan, Israel, Iran, Indonesia, Nepal, Japan, South Korea, Singapore, Thailand, Sri Lanka and, UAE. Besides, FABA has entered into working understandings with Non-Asian organizations like the European Federation of Biotechnology, Biocat (Spain), Maryland India Business Round Table (USA), Bio Industry Park (Italy) and Association of German Biotech companies (Germany), etc.
