The World Economic Forum Center for Fourth Industrial Revolution, “the first thematic centre in India to focus on life sciences and healthcare,” will be set up in Hyderabad.
The announcement was made after the Telangana government and the World Economic Forum signed a collaboration agreement during the Forum’s annual meeting at Davos on Monday.
The Centre - C4IR Telangana - will be an autonomous, non-profit organization, leading on policy and governance for healthcare and life sciences.
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The agreement was signed by Jeremy Jurgens, Managing Director of the World Economic Forum, and Shakthi Nagappan, Chief Executive Officer, Telangana Life Sciences Foundation, Telangana government in the presence of the State's industries and commerce minister KT Rama Rao and Børge Brende, President of World Economic Forum.
KTR said that the centre “is a testament to the strong life sciences prowess of Telangana” helping his government further elevate the life sciences ecosystem in Telangana.
“Delighted that the World Economic Forum has chosen Hyderabad as its India hub for establishing the centre. Life sciences are one of Telangana's priority sectors and the partnership can leverage on the current ecosystem to further accelerate value and impact created by Telangana’s life sciences sector globally” said KTR.
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The centre will play an important role in transforming the regional, national and global healthcare sector, and improving patient access and outcomes. It will accelerate product development and delivery innovation within the overall Indian healthcare system.
“India has a unique opportunity to spearhead healthcare and life sciences in South Asia. C4IR Telangana – with the support of the Forum’s global network of Fourth Industrial Revolution centres and the backing of the state and central governments in India – will be a key player in driving stakeholder engagement, building bridges between the public sector and SMEs and supporting job creation in the healthcare sector,” said Brende.
C4IR Telangana is the only centre of the World Economic Forum in India with a thematic focus on healthcare and life sciences. Telangana is regarded as a leading life sciences hotspot in Asia. The state accounts for one-third of global vaccine output and is regarded as the world's vaccine capital. Telangana also contributes to about 35 per cent of India’s pharmaceutical production, a statement from KTR's office said.
C4IR Telangana will be the 18th centre to join the World Economic Forum’s Fourth Industrial Revolution (4IR) Network, which spans four continents. With the establishment of this centre, Telangana will become an important node in the global network of 4IR centres.
“Being the first healthcare and life sciences 4IR centre in the region, the hub will facilitate, advance and accelerate the development and adoption of newer technologies including genomics, personalized medicine and healthcare manufacturing, with a focus on the interplay between life sciences and technology in the region and globally.”