Biotechnology
Biotechnology is a rapidly expanding field in the city. Bangalore accounts for at least 97 of the approximately 240 biotechnology companies in India. Interest in Bangalore as a base for biotechnology companies stems from Karnataka's comprehensive biotechnology policy, described by the Karnataka Vision Group on Biotechnology. In 2003-2004, Karnataka attracted the maximum venture capital funding for biotechnology in the country - $8 million. Biocon, headquartered in Bangalore, is the nation's leading biotechnology company and ranks 16th in the world in revenues.
Institute of Bioinformatics and Applied Biotechnology (IBAB), initiated by Biotechnology vision group, ICICI and Biocon (located at ITPL) is trying to shape revolutionary scientists in the field.
Like the software industry which initially drew most of its workforce from the local public sector engineering industries, the biotechnology industry had access to talent from the National Center of Biological Sciences (NCBS) and the Indian Institute of Science (IISc).
And Indian Biotechnology Research Organisation (IBRO) is recently under process of development to boost Biotechnology Growth in India, providing the Advanced Research and Talent pool to India from IBRO, whose mission and vision is Research and Development in Biotechnology to make India as a Global Leader in Biotechnology.
Other Major Biotechnology company based out of Bangalore is Advanta India.
Read more about this topic: Economy Of Bangalore