The World Economic Forum-Telangana Centre will be launched in Hyderabad in February 2024 as part of the Fourth Industrial Revolution network (WEF-C41R), which spans four continents. The WEF-Telangana Centre will be jointly set up by the World Economic Forum (WEF) and the Telangana government, as the world’s ‘first thematic centre focussing on health tech and life sciences.’
The agreement for the centre was signed during a meeting between Telangana Chief Minister A Revanth Reddy and WEF President Borge Brende on Tuesday, January 16 at Davos during the annual WEF conference. The centre will be launched during BioAsia 2024.
According to the Telangana government, it will be a significant milestone in the state’s strength in health tech and life sciences. “The initiative aligns with the broader vision of Telangana government and goals of the World Economic Forum, emphasising collaboration to improve people’s lives through enhanced lifestyles and improved quality of living standards," the Chief Minister said.
CM Revanth stated that the initiative will extend world-class healthcare services to people living in villages and small towns. Telangana IT and Industries Minister D Sridhar Babu, who was accompanying the Chief Minister, stated that the government is determined to transform Telangana into a global health tech hub, extending services to rural areas.
The C4IR in Hyderabad is expected to become the world’s first healthcare hub, generating jobs in the healthcare sector and fostering collaboration between the government and small and medium enterprises.
The WEF had selected and announced Hyderabad as the location for the C4IR during last year’s annual conference in Davos. The Telangana government and the WEF had signed a collaboration agreement. It was announced that the Centre will be an autonomous, non-profit organisation, leading on policy and governance for healthcare and life sciences.
C4IR Telangana is the 18th centre to join the World Economic Forum’s Fourth Industrial Revolution (4IR) Network. With the establishment of this centre, Telangana will become an important node in the global network of 4IR centres, and it will also help Telangana consolidate its leadership position globally.