Try GOLD - Free
Karnataka launches India's first GCC policy
BioSpectrum Asia
|December 2024
Bengaluru Tech Summit 2024
The 27th Edition of Bengaluru Tech Summit (BTS) 2024, organised by the Department of and Software Technology Parks of India, Bengaluru, was inaugurated by Siddaramaiah, Chief Minister of Karnataka, in the august presence of other dignitaries, at Bangalore Palace on November 19. The event witnessed the launch of India's first policy for Global Capability Centre (GCC).
Key highlights of the policy include the creation of Global Innovation Districts with three new tech parks in Bengaluru and Beyond Bengaluru, and the establishment of a Centre of Excellence (CoE) for Artificial Intelligence (AI) to boost AI R&D and talent development.
The Centre of Excellence in AI, in collaboration with IIT Alumni Centre Bangalore, positions Karnataka as a hub for advanced R&D and startup innovation. This CoE will work on a hub and spoke model with multiple academic institutions of excellence across the State (especially Beyond Bengaluru) to create compute capacity, curated datasets, responsible/ethical AI principles, startup acceleration facilities and other support needed to build the AI ecosystem.
It is envisioned as India's premier accelerator for AI startups. This initiative is designed to support the next generation of AI-driven innovations by providing startups with access to capital, high-quality mentorship, industry partnerships, and state-of-theart technical resources.
The GCC policy also introduces the Beyond Bengaluru Package, offering recruitment assistance and rental support, while creating 3.5 lakh jobs. The government aims to attract establishment of 500 new GCCs achieving a total number of 1,000 GCCs in Karnataka by 2029; to support creation of 3.5 lakh new jobs in Karnataka by 2029; and to generate economic output of $50 billion in Karnataka through the GCCs being established by 2029.
This story is from the December 2024 edition of BioSpectrum Asia.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM BioSpectrum Asia
BioSpectrum Asia
Collaborative R&D: Partnerships shaping the future of biopharma
Biotechs and pharma companies face rising costs of drug development, depleting R&D pipelines and diminishing returns on investment. By joining forces and exploring collaborative R&D partnerships it is possible to overcome these challenges. In addition to sharing risks, they share the potential rewards when their assets move further into clinical development or come to the market.
2 mins
BioSpectrum Asia Sep 2025
BioSpectrum Asia
Quantum Computing: Future of diagnostics is being coded today
A silent revolution is being built at the intersection of biology and quantum physics. After decades of pushing the boundaries of diagnostics with advanced imaging and AI, we are now approaching a hard computational wall. For complex conditions like Alzheimer's, Parkinson's, and many cancers, the interacting variables of genomics, proteomics, and real-world patient data are simply too vast for classical computers to master. This limitation caps the ability to move from merely spotting correlations to uncovering true causation. Unlike traditional AI, quantum computing can simulate underlying physical systems to derive precise solutions. The transition from correlational analysis to causal simulation will enable a more valuable and advanced frontier in diagnostics.
4 mins
BioSpectrum Asia Sep 2025
BioSpectrum Asia
First Pacific woman to serve as public health director in NZ
The Ministry of Health in New Zealand (NZ) has appointed Dr Corina Grey as the new Director of Public Health this year, a landmark appointment for Pacific leadership.
1 min
BioSpectrum Asia Sep 2025
BioSpectrum Asia
Bio-Rad appoints Rajat Mehta as Executive Vice President of Global Commercial Operations
Bio-Rad Laboratories, Inc., a global leader in life science research and clinical diagnostics products, has announced the appointment of Rajat Mehta as its new Executive Vice President, Global Commercial Operations, effective August 4, 2025.
1 min
BioSpectrum Asia Sep 2025
BioSpectrum Asia
Hugel launches botulinum toxin Letybo in Malaysia
South Korea-based Hugel Inc., a leading global medical aesthetics company, has officially launched its botulinum toxin product Letybo in Malaysia - an emerging market for medical aesthetics in Southeast Asia.
1 min
BioSpectrum Asia Sep 2025
BioSpectrum Asia
Australia designs smart wound monitor to improve chronic infection care
Researchers from Australia's RMIT University have developed a wearable wound monitoring device with integrated sensors that could reduce infection risks by minimising the need for frequent physical contact.
1 min
BioSpectrum Asia Sep 2025
BioSpectrum Asia
Revvity unveils innovative reagent technology to accelerate therapeutics development
US-based Revvity, Inc. has announced the launch of pHSense reagents, a powerful technology designed to advance internalisation studies in drug discovery.
1 min
BioSpectrum Asia Sep 2025
BioSpectrum Asia
Sanofi acquires next-gen vaccine biotech Vicebio for $1.6 B
Vicebio, a biopharmaceutical company with operations in Australia, UK and Belgium, has entered an exclusive, definitive agreement to be acquired by Sanofi.
1 min
BioSpectrum Asia Sep 2025
BioSpectrum Asia
HOSMAC signs MoU with Gulf Medical University to strengthen healthcare education
HOSMAC, Asia's leading hospital planning, design, and management consultancy, has signed a Memorandum of Understanding (MoU) with Gulf Medical University (GMU), Ajman, UAE, to serve as an industry partner.
1 min
BioSpectrum Asia Sep 2025
BioSpectrum Asia
Jessica Cowden takes charge as Deputy Director General of CARE unit at IVI
Dr Jessica Cowden has been appointed Deputy Director General of the Clinical, Assessment, Regulatory, Evaluation (CARE) unit at South Korea-headquartered International Vaccine Institute (IVI). She will continue to be based at IVI's Europe Regional Office in Stockholm, Sweden.
1 min
BioSpectrum Asia Sep 2025
Listen
Translate
Change font size