VEGA KEEN to develop innovation park

Rahul Wadke, Mumbai
The Hindu Business Line
The Mumbai Metropolitan Region Development Authority’s vision for an innovation park could be made a reality thanks to an Italian company.

Venice Gateway for Science and Technologies (Vega), which undertakes industrial research for companies back home, is keen on developing a similar one in Maharashtra. MMRDA’s model would typically involve an investment of Rs 1,000 crore across 2,000-3,000 acres near Mumbai.

Vega has linked universities, centres of excellence and the manufacturing sector to sharpen the competitive edge of Italian companies in the global market. Over 200 companies have established their offices in the park.

The park will serve as an incubation zone for nanotechnology and biotechnology. “Our talks are at a nascent stage, but such parks could come up near Panvel or Lavasa near Pune. MMRDA could enter a joint venture with the Maharashtra Industrial Development Corporation and other private sector companies for this exercise. It is now working on the techno-economic feasibility study,” said Ratnakar Gaikwad, Commissioner of MMRDA.

Giorgio Mattiello, International Projects Advisor (Innovation Area), Vega said, “We want to build on the experience of the Venice park and create a similar model that can meet local requirements.”