Karnataka Chief Minister BS Yediyurappa will lay the foundation stone for the much-awaited Bengaluru Life sciences Park at Electronics City today. Deputy Chief Minister CN Ashwath Narayan said, the proposed park spread over nine million square feet on 52.27 acres will be built at a cost of 5000 crore rupees. Set up on a public private partnership model, the first phase of the project is slated to be completed by December 2022.<br />'' <br />''To be equipped with the world's best biotechnology infrastructure, the life sciences park is estimated to house more than 150 companies with a potential to generate 50,000 employment. The park will have dedicated incubation space for start ups, shared instrumentation lab and customised fully fitted lab and office suites. Dr. Ashwath Narayan informed that Bengaluru is home to around 40 percent of major biotechnology firms in the country with 380 companies and 200 start-ups.<br />'' <br />''<span style="color: #222222;">Karnataka has nine percent market share in Asia's biotechnology space while India has a total of around 35 percent. He further added that path breaking Research and Development in the field of biotechnology has helped precise treatment based on organisms apart from its contribution to develop our agriculture practices.</span><br />