National Policy Guidelines on Bio-Medical Innovation and Entrepreneurship

February 25, 2022

The National Policy Guidelines on Bio-Medical Innovation and Entrepreneurship was launched by Union Health Minister Dr. Mansukh Mandaviya in New Delhi.

Overview:

The aim of this policy is to develop an entrepreneurial environment in India that will be innovation-driven with the ultimate goal of improving human health and well-being.
This policy has been launched as it is the perfect time to show the world the nation’s strength through innovative initiatives and research in the health sector.
The newly launched policy will incentivize, motivate, and give a boost to all the stakeholders in this sector.
By promoting initiatives like Make-in-India, Start-Up-India, and Atmanirbhar Bharat, this policy will look to ensure multidisciplinary collaboration and the promotion of start-up culture to establish an innovation-led ecosystem at medical institutes across the country.
This policy will connect technical institutions with the industry to promote commercial translation of innovations in the health sector.

How will the policy encourage the medicinal professionals of the country?

Medical professionals and doctors of the nation will be encouraged to pursue entrepreneurial enterprises, taking up roles such as scientific advisors, etc. Doctors will also be able to work on industry and inter-institutional projects on their own or through enterprises, license technology to businesses, and revenue generation for social benefit and self-sufficiency.

The medical professional will also be allowed to take a sabbatical for the purpose of commercialization of their innovations through their respective start-ups or industry collaboration.

Conclusion

More importance should be given to the field of research and innovation so that India becomes self-reliant. The policy will help the nation in providing the world with the best innovative medical device which will be made in India and research in the medical sector.

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