Explanation:

Towards strengthening the emerging biotechnology enterprise in India, Department of Biotechnology (DBT), Ministry of Science & Technology has initiated the Mission programme entitled: Industry-Academia Collaborative Mission for Accelerating Discovery Research to Early Development for Biopharmaceuticals – “Innovate in India (i3) Empowering biotech entrepreneurs & accelerating inclusive innovation”.
This Mission of the Department was approved and formally launched in 2017.
S2: The Mission has been approved at a total cost of US$250 million for five years with 50% funding through World Bank Loan, with an aim to make India a hub for design and development of novel, affordable and effective biopharmaceutical products such as vaccines, biologics and medical devices for combating public health concerns. It wasn’t established by WB or formally supported by the ICC.
This Programme of DBT would strengthen translational capability of academic researchers; empower bio- entrepreneurs and SMEs by decreasing the cost and risk during early stages of product development and also elevate the innovation quotient of the industry.
The global experience of World Bank would be instrumental in building sustained global linkages, technical assistance and knowledge flow between public private partners for business promotion in biotech sector.