Shaw has committed an initial fund of Rs 5 crore which will go for a pool of funding to carry out scientific projects on “pandemic preparedness,” the foundation said in a press release. Projects funded by Biocon chief are expected to support efforts to prepare and respond to future pandemics.
In response to funding, Venki Ramakrishnan said it was time for India to make substantial investment in science and innovation, an area that the country lags behind compared to the West and some Asian countries. “No country can prosper in the 21st century without being technologically advanced and a knowledge based society. Most advanced countries have significant private investments in science which is lacking in India,” he said.
Appreciating Shaw’s gesture, Ramakrishnan hoped it would encourage other donors to contribute. “Ignite Life Science Foundation has a crucial role to play in catalysing change,” he said.
Shaw said she was hopeful about the Ignite LSF funded researchers work and that it will “become an integral part of the global ecosystem of innovative and advanced healthcare solutions.” “I have always committed a large part of my philanthropy to back biomedical research,” she said.
The not-for-profit institution is an initiative to fund scientific projects that have potential to create a positive impact on problems relevant to India. It is managed by a group of professionals from diverse fields including scientific research, academia and management.