The budget provides for a medical technology innovation park


On Friday, Finance Minister KN Balagopal, presenting the 2022-23 state budget, announced the establishment of a medical technology innovation park in Thiruvananthapuram.

Envisioned as a consortium of all institutions working in the field of medical technology, this innovation park will create a “medical entrepreneurial ecosystem” in Kerala, Mr. Balagopal said, announcing an allocation of ₹100 crore for the same through the KIIFB.

The Innovation Park will focus on business incubation, helping start-ups and young innovators grow their business/product.

Another new idea launched is the creation of a microbiome center of excellence. The microbiome is an important key to understanding the interrelation between human beings, animals and the environment and has great relevance in the context of the COVID-19 pandemic.

The Kerala Development and Innovation Strategic Council (K-DISC) has already taken steps to lay the groundwork for a strategic microbiome program, incorporating various research institutes, within a year. A budget allocation of ₹5 crore has been made for the project

An amount of ₹50 crore has been allocated in the budget for the first phase of the Kerala Genomics Data Center, a five-year ₹500 crore project initiated by K-DISC.

Mr. Balagopal announced that a high-capacity data center capable of storing and processing large genomic data will be set up in collaboration with the University of Kerala and will be a crucial platform for research institutes. research, hospitals, bioinformatics and diagnostics startups and biotechnology companies. This will be beneficial for health care and the study of critical genetic disorders, it is hoped

The budget also announced the creation of a Nutraceutical Center of Excellence, which will be an integration of nutritional and pharmaceutical sciences with traditional knowledge and medical practices passed down from Indigenous communities around the world.

K-DISC will facilitate an integration program for research centers, startups and other institutes in the field. A committee of experts will be formed to prepare a plan for this nutraceutical project in Kerala. An amount of ₹25 lakh has been budgeted for the preparation of a detailed project report.

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