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

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.
Key facts

• 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.

Month: Current Affairs - May, 2016