An 'Absolute' Revolution In Bioscience Sector The company's vision is to build a thriving future for people and the planet by harnessing the power of nature, science and exponential innovation
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Sustainability is the much needed phenomenon in the current times where the ultimate goal for the people to co-exist on the earth for a long time. Exploiting this need of the hour, in 2015, Absolute was born with the idea of a shared future where both people and the planet win together. The company's mission is inspired by the call of Dr. APJ Abdul Kalam's (11th President of India & world-renowned scientist) for the next big revolution in solving some of the grandest challenges humanity faces especially in agriculture. He also expressed this in two of his books, 'Target three billion' and 'Beyond 2020'.
"Our vision is to build a thriving future for people and the planet by harnessing the power of nature, science and exponential innovation. Today, Absolute is fast evolving into a generation-defining bioscience company leveraging billions of years of nature's evolutionary intelligence to solve humanity's greatest challenges – starting with safe and sustainable solutions for agriculture and extending to biomaterials and biocare," said Agam Khare, founder and CEO, Absolute.
All these segments are powered by cutting-edge research in biology at Xenesis Institute, the R&D arm of Absolute. Xenesis is building remarkable platforms and solutions using biological data captured in its Nature Intelligence Platform – an all-encompassing approach to discover powerful biomolecules, enzymes and microorganisms in nature.
"Our R&D spans over 5 million square feet for product development and testing, with state-of-the-art research laboratories headquartered in New Delhi and Pune. Our bioabled farm inputs are further tested at the company's diversified trial stations, which span six different agroclimatic zones across the Indian subcontinent," said the founder.
Elaboratively, the founder's statement added that the Xenesis Institute is powered with over 150 world-leading scientists with expertise ranging
across plant biology, molecular biology, transcriptomics, metagenomics, metabolomics, proteomics, strain engineering, biomaterial development and bioprocess engineering. Our researchers have previously worked at leading agricultural firms including Syngenta, Bayer, FMC and Corteva. Many join Xenesis after exceptional careers in the USA, South Korea, Israel and Africa. It is also claimed that Xenesis has over 15 patents in the pipeline.
It is said that the bioscience sector is one of the most demand-driven sectors. Being one of the key players in the ecosystem, Absolute CEO stated that the Indian biotechnology industry is forecasted to reach $150 billion by 2025 and $300 billion by 2030. In India, the sector is largely a 'me too' market where there is fierce competition and multiple players making products that are already well established. There are far fewer players in the speciality biotech sector in which Absolute, powered by R&D at Xenesis, operates. The speciality sector is gaining rapid momentum as it is a triple-digit billion-dollar market that provides ample opportunities for several players to co-exist.
"Only from the speciality sector in biotechnology will real innovation and transformation come about, giving products developed in India global significance and putting Indian science and technology on the world map," said Agam Khare.
Furthermore, he also explained about the impact of the government's role in the biotech sector and also the technological adoption in the agritech sector. According to him, the government has vocalized its commitment to 'green growth', which is a big step towards building an environmentally-sustainable nation. The Budget FY 2023-24 sent a strong message that sustainability has to be central to economic and social growth. As per the latest Economic Survey, the agriculture sector has performed well but needs a "re-orientation" to overcome challenges like adverse impacts of climate change, rising input cost, etc. Biotechnology will play a pivotal role in shaping India's response to this call.
"It will take scientific collaboration, innovation and leadership to make sustainability accessible to the masses in India. Since its foundation, Absolute has been driven by the extraordinary commitment of our researchers to discovering and developing products that can perform even in adverse conditions. Through our products, we strive to make sustainability an easy and rewarding choice, with an array of benefits for people and the planet," he further noted.
While analyzing the current trends, Agam Khare has something to pass on to the beginners in the ecosystem. He revealed that those aspiring to venture into the biotech sector should embrace persistence and perseverance. Research and innovation in this field has a long gestation period. It is important to build deep subject matter expertise to be successful and differentiated in the fast-expanding market of biotechnology products. Parallely, it is imperative for founders to have a clear view on regulatory guidelines and what that means for their business in the long term.
He added, "My firm belief is that true breakthroughs in this industry can only come from an unparalleled understanding of why nature behaves the way it does, by understanding their choices and preferences and then marrying that science with the latest in technology to build sustainable products and services that impact at scale."
Every business flourishes only with a keen observation and sharp focus to the future. Here, Absolute aims to transform the future for people and the planet by reimagining what's possible by simply harnessing the power of nature.
The founder revealed the future growth plans that, "Our current focus is on launching Inera- our brand of pathbreaking bioabled farm input products starting with India. This will allow smallholder and marginal farmers to substantially improve their quality and productivity while minimizing their expenditure on inputs, improving climate adaptability and reducing their carbon footprint, resulting in increased profitability."
He also spoke about the company's plan to expand Upaj offerings – the digitized farm value-chain business and scale their global commodity presence into new markets, adding that they want to make significant investments in R&D and manufacturing units in India and several strategic locations globally.
"Currently, Absolute has 8 cutting-edge research stations in India and 2 manufacturing facilities. A number of global companies have reached out to jointly develop products and conduct joint trials and jointly commercialize. We have always believed in a shared future benefiting humanity. We will soon release more information on our long term partnerships," said Agam Khare.