To Enhance R&D Capabilities in Biotech India and Australia Inked MoU [ Current Affairs ]
To improve research and development (R&D) capabilities in biotechnology by introducing a joint funding call, India and Australia have inked a Memorandum of Understanding (MoU). Which was signed by India’s BIRAC (Biotechnology Industry Research Assistance Council) and Horticulture Innovation Australia.
- The main aim of this MoU is to encourage and develop the strategic research and innovation capabilities of the Indian biotech industry.
- The concentration area of the funding call is to assume horticultural research in order to improve and organize modern tools of plant biotechnology to advance crop productivity.
- The BIRAC and Horticulture Innovation have committed for funding up to 6 million Australian dollars over three years period.
- It is a PSU under the Union Ministry of Science and Technology.
- The main objective of it is to encourage and develop the strategic research and modernization capabilities of the Indian biotech industry, particularly start-ups and SMEs, for the formation of affordable products talking the requests of the largest section of society.
About Horticulture Innovation Australia (Hort Innovation):
- It is a not-for-profit, grower-owned R&D and elevation company for Australia’s horticulture industry.
- It jointly works with industry, Australian government and the nation’s leading research institutions to bring ground-breaking progressions in areas of agri-technology, pest management, trade and industry promotion.
- Published on: May 30, 2016