Biopharmaceutical major Biocon sets up training academy

BANGALORE: Biopharmaceutical major Biocon has set up an educational arm Biocon Academy with the objective of training and developing industry-ready talent for India's $11-billion biotech industry.
The academy will offer engineering and science graduates advanced learning in applied biosciences and help bridge the talent deficit that plagues one of India's sunrise sectors.
Projected to cross revenues of $100 billion over the next decade, the Indian biotech industry receives 40,000 graduates annually from over 725 biotech institutes in the country, of which only 2,000, or 5%, is employable.
"There is a very large gap that exists between the quality of human capital available and the need of the industry. If this sector aims for $100 billion in revenues, then it calls for a very large talent pool to enable us to achieve this goal," said Kiran Mazumdar-Shaw, CMD of Biocon.
The Biocon Academy has collaborated with Keck Graduate Institute, California, to offer the Biocon KGI Certificate Program in Biosciences, for which the enrollment process has begun.
While the 16-week programme would cost Rs 6 lakh per graduate, Biocon will bring down the cost to Rs 1.5 lakh by offering scholarships.
"We will offer a merit scholarship of 75% of the course fee for all students selected through an intensive selection process," said Shaw. Initially, Biocon Academy will have 25 students per batch, and have four batches in a year.
Sheldon M Schuster, president, Keck Graduate Institute, said, "Through our collaboration with the scientists and subject matter experts at Biocon, KGI has developed an applied, graduate level curriculum that will be focused on teamwork and will reflect current industry dynamics."
Biocon, with revenues of close to $500 million, has spent Rs 10 crore in setting up the Academy, and will incur expenditure of close to Rs 10 crore per annum by way of administration costs and scholarships.