The project, estimated to cost Rs 100 crore (Rs 1 billion) and spread over 100 acres of land, would be developed with indigenous technology on a public-private-partnership, state Industry Minister Nirupam Sen said in Kolkata.
This is the first IIT in the country to be involved in a biotech park project, Prof Partha P Chakrabarti said.
The park would focus on several biotechnology areas like biometrics, healthcare devices and industrial enzymes, IIT-Kharagpur officials said adding they would offer discount on the technology transfer for industry setup in West Bengal.
A concept paper on the biotech park will be prepared by the IIT in three months using its own technical knowledge and skill, they said.
WBIDC will offer a seed capital of Rs 25 lakh toward the project and the infrastructure would be developed by a private partner for which expression of interest would be invited shortly.
Sen said WBIDC and IIT-Kharagpur would jointly approach the ministry of defence for more land. The state has arranged 100 acres in East Midnapur district.
WBIDC would be responsible for facilitating the receipt of fiscal benefits and concessions from state and central governments. It would also help in land acquisition and transfer and other such requirements necessary for the promotion of infrastructure.
While IIT-Kharagpur would liaise with department of biotechnology, the government would bring research and development facilities to the biotech park, the officials said.
The institute would also provide training and technical advice and constitute a technical committee to oversee research and development facilities. Investors meet would also be organised to attract investors in the biotech sector.
