Startups have found many investors, says Kiran Mazumdar Shaw

Chancellor Prof. K. Ramakrishna Rao addressing the 11th convocation of GITAM Deemed to be University in Visakhapatnam on Saturday.  

Startups have found many investors, says Kiran Mazumdar Shaw

The present global pandemic brought huge healthcare challenges but it has also opened up a huge number of opportunities in every part of the world and the Indian biotech sector saw many startup companies rising with huge investment flow, observed Biocon Limited founder Chairperson Kiran Mazumdar Shaw.

She was delivering the keynote address online on Saturday at the 11th convocation of GITAM Deemed to be University here.

Many startup companies in the Indian biotech sector that could not even attract venture capital or any funding in the past had now suddenly found a large number of investors. Many more startups would come in the near future. The textile industry repurposed its plants into developing PPEs and today India was a major exporter of PPEs to the world, she said.

“Initially there was a shortage of ventilators in the country but our companies rose to the challenge and started developing ventilators of various types and today it’s become a big export opportunity for that sector.”

Many companies, including Indian entities, had developed very important drugs that could manage the disease better and prevent deaths, she said and advised the present generation to face challenges and failures to create opportunities.

GITAM Chancellor Prof. K. Ramakrishna Rao said that the institute would prepare students to face all kinds of challenges. Vice-Chancellor Prof. K. Sivaramakrishna informed that GITAM was developing its own learning management system to address its expanding needs.

New school

He announced that GITAM had established Kautilya School of Public Policy with a mission to empower leaders through rigorous public policy education.

Their faculty had filed 25 patents during the year and published 1,783 research papers in international journals.

Pro-Vice-Chancellor Prof. Jayasankar Variyar conducted the oath-taking ceremony.

Registrar Prof. D. Gunasekaran informed that a total 6,135 undergraduate and postgraduate students and 140 Ph.D students had successfully completed their courses to receive the convocation degrees. He announced the names of 46 gold medallists.

GITAM Institute of Pharmacy faculty P.M. Krishna Prasad received the best thesis award and Mechanical Engineering associate professor Balla Srinivasa Prasad received the best researcher award.

GITAM president M. Sribharath, vice-president Prof. M. Gangadhara Rao, governing body members and board of management members participated in the programme.