AMTZ becomes full time member of IASP to boost biz for cos and research bodies

HomeNewsAMTZ becomes full time member of IASP to boost biz for cos and research bodies

AMTZ becomes full time member of IASP to boost biz for cos and research bodies

Publish Date : Aug 02, 2017

Shardul Nautiyal, Mumbai
Wednesday, August 02, 2017, 08:00 Hrs  [IST]

Andhra Pradesh MedTech Zone (AMTZ) has become the second Indian park to become a full-time member of the International Association of Science Parks and Areas of Innovation (IASP). With AMTZ becoming a member of IASP, new business opportunities for companies and research organisations located within AMTZ and in Andhra Pradesh will be enhanced.

IASP is a membership-based global network for science parks and areas of innovation to drive growth, innovation and effectiveness.

AMTZ which is India’s first Government funded medical device park is today serving as a one-stop- solution for not only reducing cost of manufacturing up to 40% and to simplify end-to- end operations but also reducing import dependency, which is presently around 75%.

Incorporated on 30 April 2016 and foundation stone laid on 19 August 2016, AMTZ is an enterprise under the Government of Andhra Pradesh, a 270 acre zone, dedicated for medical device manufacturing.

This will also be a boost for development and growth of areas of innovation. Headquartered at Málaga, Spain, IASP is headed by Josep Miquel Piqué as its President and Luis Sanz as the Director General. Dr. Jitendar Sharma, Director, AMTZ said, “AMTZ has become the first scientific park in the state and the second in the country to become a member of IASP which is a unique achievement of its kind.”

This membership complements the approval of Kalam Institute of Health Technology, which AMTZ received recently.

AMTZ envisions to put India on the global map of high end medical equipment production and make health care products affordable and accessible not only for India but for world at large.

The creation of AMTZ is based on the premise that medical devices manufacturing requires certain high investment facilities which are too capital intensive for individual manufactures to invest upon. The zone with in-house high investment scientific facilities would help manufacturers reduce the cost of manufacturing by more than 40% to 50%. Currently, due to lack of such centrally located share-able facilities, either manufacturers do not undertake production of technologies requiring them or send their products abroad for process up-gradation and value addition.

While the zone would have all such facilities in-house to reduce manufacturing process costs, it would be in an area which is well connected with railways, roadways, waterways and airways with near presence of industrial corridors, and port to reduce logistical costs.

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