The announcement came after Telangana and the WEF signed a collaboration agreement during the annual meeting in Davos.
Telangana Minister for Industries and Commerce KT Rama Rao met the President of the World Economic Forum Børge Brende(Supplied)
Hyderabad will soon house the first World Economic Forum (WEF) Centre for the Fourth Industrial Revolution (C4IR) focused only on health and life sciences.
An announcement on setting up the Hyderabad C4IR — only the second in India and the 18th worldwide — was made after the Telangana government and the WEF signed a collaboration agreement during the forum’s annual meeting in Davos on Monday, 16 January.
The centre is expected to be an autonomous non-profit organisation focusing on policy and governance for healthcare and life sciences.
The collaboration agreement was signed by WEF Managing Director Jeremy Jurgens and Telangana Life Sciences Foundation CEO Shakthi Nagappan, in the presence of Telangana Minister for Industries and Commerce KT Rama Rao and WEF President Børge Brende.
“I strongly believe that the Centre is a testament to the strong life sciences prowess of Telangana and is yet another step by the government to elevate the life sciences ecosystem in Telangana and globally,” said KTR.
He added that life sciences was one of the priority sectors in Telangana.
“I firmly believe that this partnership can leverage on the current ecosystem to further accelerate value and impact created by Telangana’s life sciences sector globally,” said KT Rama Rao in a statement.
“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,” WEF President Børge Brende said in a statement.
The WEF Head of Healthcare Dr Shyam Bishen said that known for its strength in life sciences, Telangana was uniquely positioned to lead this effort, and the new centre would 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,” said Bishen.
Big News for Telangana from #WEF2023 on Day 1!@wef to set up a Centre for the Fourth Industrial Revolution (C4IR Telangana), India’s first centre thematically focused on healthcare and life sciences, in Hyderabad. Telangana Govt. and WEF sign an MoU to this effect in @Davos. pic.twitter.com/Ra34XIBCL0
— KTR, Former Minister (@MinisterKTR) January 16, 2023
C4IR Telangana is the only centre of the World Economic Forum in India with a thematic focus on healthcare and life sciences.
According to the Telangana government, the state was regarded as a leading life sciences hotspot in Asia.
Telangana accounted for one-third of global vaccine output, and was regarded as the vaccine capital of the world. The state also contributes to about 35 percent of India’s pharmaceutical production.
Being the first healthcare and life sciences C4IR in the region, the hub is expected to facilitate, advance and accelerate the development and adoption of newer technologies — including genomics, personalised medicine, and healthcare manufacturing — with a focus on the interplay between life sciences and technology in the region and globally.
The Centre will reportedly leverage the strengths that the state possesses with respect to progressive industrial policies, abundant availability of talent pool, world-class infrastructure, and cluster-based approach to creating further value for the region and the world.
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