WEF opens first thematic centre focused on healthcare in Hyderabad

World Economic Forum (WEF) inaugurated the Centre for Fourth Industrial Revolution (C4IR) in Hyderabad.

The centre was inaugurated on the last day of BioAsia 2024. This will be WEF’s first thematic centre focussed on healthcare and life sciences.

“The centre aims to create over 10,000 job opportunities in health tech, foster 20-25 emerging companies and startups, and generate 10-25 novel ideas through its registry,” said D. Sridhar Babu, Telangana’s Minister for Industries and Commerce.

“The vision includes skilling nearly 50,000 local graduates over the next five to six years to make them industry-ready for life sciences research and manufacturing. The pilot batch of the skilling initiative, focusing on medicinal chemistry and analytical chemistry, is set to commence within a week.”

The C4IR focuses on real-world evidence, healthcare analytics and informatics, and software as a medical device. Several initiatives have been introduced, starting with the establishment of a state-level clinical registry currently undergoing a pilot phase in three hospitals before statewide implementation.

Additionally, a clinical innovation sandbox is in the works to foster startups and innovations, allowing prototypes and products to undergo testing in clinical settings.

A data analytics lab is being established to drive innovation in clinical and wearable devices. Shakti Nagappan, Director, Life Sciences and Pharma, Telangana government, highlighted the commencement of a high-throughput skilling programme aimed at developing industry-ready talent in the state.

The Industries Minister outlined the launch of the clinical registry, starting with hemophilia indications and expanding into multiple indications. He emphasized that having a clinical registry would not only improve healthcare outcomes but also facilitate better resource allocation. The clinical innovation sandbox, a key part of the initiative, is progressing well with partnerships established with 15 clinical sites to expedite the validation of innovative products and devices.

Principal Secretary of Information Technology, Jayesh Ranjan highlighted the five-year-long discussions with the World Economic Forum and expressed gratitude to industry leaders in Hyderabad for their support.

He highlighted the centre’s role in addressing challenges collectively, particularly those unique to India. “From time to time, we will be publishing updates on what we are achieving and what we are striving to do”, he added.

Jeremy Jurgens, Managing Director of the World Economic Forum, praised Hyderabad as an ideal location to bring together the life sciences sector, considering the investments from national and international organizations.

“The centre has the potential of harnessing artificial intelligence, genomics, telemedicine, and medical devices to enhance the resilience and quality of healthcare services,” he said.
MB Bureau