A day after a massive fire broke out at the Bangalore Bioinnovation Centre (BBC) in Electronics City on January 14, causing an estimated loss of around Rs 150 crore, Karnataka IT-BT minister Priyank Kharge on Wednesday held a meeting with affected startups.
BBC, a Karnataka government-owned research and development hub dedicated to the life sciences ecosystem, houses multiple startups engaged in cutting-edge research. Preliminary assessments estimate that startups incurred losses ranging from Rs 80 crore to Rs 110 crore, with damage to BBC infrastructure pegged at around Rs 42 crore.
Also, read: Major fire breaks out at Bangalore Bioinnovation Centre; estimated loss around Rs 150 crore
The fire reportedly started at 4:35 am in the Galore Tx startup lab (Room ESF07) on the second floor, reportedly due to the improper handling of flammable solvents. No injuries have been reported so far.
Kharge assured the startups that the government is reviewing assistance and compensation measures. “I assured affected startups that the government is already in the process of finalising alternate spaces to help them resume operations at the earliest. We are also assessing which common equipment can be procured to support their immediate needs. Each case will be examined thoroughly to understand the extent of the damage and provide tailored support," he said.
He also highlighted the role of Corporate Social Responsibility (CSR) initiatives and corporate funding in mitigating the losses, emphasising the government’s commitment to restoring Karnataka’s biotech innovation ecosystem.
“Karnataka’s leadership in biotech innovation, production, and exports is built on the hard work of incubators like BBC and the startups. While the loss of critical innovations and IP is a setback, we are committed to helping them rebuild,” Kharge added.
BBC, spread across four stories, houses 12 research laboratories focused on life sciences, healthcare, biomedicine, agriculture, food, industrial biotechnology, and bio-environmental technology.
Meanwhile, Biocon Limited Executive Chairperson Kiran Mazumdar-Shaw expressed her anguish over the incident. "Tragic to see this happen to a vibrant incubation centre that houses so many innovative biotech startups caused by one irresponsible startup that did not follow the norms. Years of cutting-edge efforts reduced to ashes. Fire is a major risk factor that must be addressed with serious preparedness," she wrote on X (formerly Twitter).
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