The Indian Council of Medical Research/Department of Health Research on Thursday unveiled a new policy on Biomedical Innovation and Entrepreneurship. As per the policy doctors and medical professionals will now be able to pursue entrepreneurial ventures by forming start-up companies and taking up adjunct positions such as a non-executive director or scientific adviser in companies.

Union Health Minister Mansukh Mandaviya released the policy on Thursday.

The medical professionals could undertake inter-institutional and industry projects alone or through companies, license technologies to business entities leading to commercialization, revenue generation for self-sustenance and societal benefit. They would also be permitted to take up sabbatical for translational and commercialization of their innovation through their start-up company set up following the institute’s permission.

On Thursday, Balram Bhargava, ICMR chief, said that the new policy was a game-changer and would promote interdisciplinary collaboration, innovation, technology development, skill development and foster entrepreneurship development and make-in-India product development for societal benefit.He added that the policy would enable medical institutions to actively support their personnel in contributing towards innovation and entrepreneurial ventures and positively impact human health and well-being. It would bring about a paradigm shift in the innovation and entrepreneurship culture in the country with a far-reaching impact on all medical colleges and institutes.

The policy had been formed after consulting with various government institutions, including AIIMS and IIT, Delhi and was an attempt to enable medical institutions to actively support the medical personnel to contribute to innovation and entrepreneurship associated activities.

The government data showed that medical colleges and institutions were lagging far behind on the research front in India. Most patents and innovations were being filed and claimed by engineering institutes of India. So this policy would support and help the medical personnel to contribute to innovation and entrepreneurship associated activities.

Source: The Tribune