India, Australia sign MoU to enhance R&D capabilities in biotech

Posted on:30 May 2016 09:13:13
India, Australia sign MoU to enhance R&D capabilities in biotech
30 May 2016 Current Affairs: India and Australia have signed a Memorandum of Understanding (MoU) to enhance research and development (R&D) capabilities in biotechnology by launching a joint funding call. The MoU was signed between India’s BIRAC (Biotechnology Industry Research Assistance Council) and Horticulture Innovation Australia.

The MoU seeks to stimulate and enhance the strategic research and innovation capabilities of the Indian biotech industry. The focus of the funding call is to undertake horticultural research in order to develop and deploy modern tools of plant biotechnology to improve crop productivity. The funding commitment from BIRAC and Horticulture Innovation is up to 6 million Australian dollars over a period of three years.

BIRAC :  It a PSU under the Union Ministry of Science and Technology. It seeks to stimulate and enhance the strategic research and innovation capabilities of the Indian biotech industry, particularly start-ups and SMEs, for the creation of affordable products addressing the needs of the largest section of society.

Horticulture Innovation Australia (Hort Innovation) : It is a not-for-profit, grower-owned R&D and marketing company for Australia’s horticulture industry. It works collaboratively with industry, Australian government and the nation’s leading research institutions to deliver ground-breaking advancements in areas such as agri-technology, pest management, trade and industry promotion.

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