World Economic Forum’s C4IR to create 10,000 jobs

Hyderabad witnessed inauguration of World Economic Forum's Centre for Fourth Industrial Revolution (C4IR), focusing on healthcare innovation.

Hyderabad witnessed the inauguration of the World Economic Forum’s (WEF) Centre for Fourth Industrial Revolution (C4IR) during the concluding day of BioAsia 2024 on Wednesday. This will be the world’s first thematic centre focussed on healthcare and life sciences.

“The centre aims to create over 10,000 job opportunities in healthtech, foster 20-25 emerging companies and startups, and generate 10-25 novel ideas through its registry,” said Telangana’s Minister for Industries and Commerce, D. Sridhar Babu during the launch. He further added, “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 three key areas: 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) at the Government of Telangana, highlighted the commencement of a high-throughput skilling programme aimed at developing industry-ready talent in the state.

The minister outlined the launch of the clinical registry, starting with haemophilia indications and expanding into multiple indications. He emphasised 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 organisations. He said, “The centre has the potential of harnessing artificial intelligence, genomics, telemedicine, and medical devices to enhance the resilience and quality of healthcare services.”