The Foundation for Life Sciences and Business Management was established in 2003-04 with the aim of working in areas of higher education and research, and helping set up entrepreneurial ventures in biotechnology and related fields.

Mr Ramesh Mehan, a leading NRI entrepreneur from USA, with roots in Himachal Pradesh, conceived the idea of promoting biotechnology education, and of integrating it with management sciences during a visit to India in December, 2003. He joined hands with renowned academician Prof P K Khosla, former Vice Chancellor at HPAU, Palampur and Mr Satish Anand, a local businessman with vast experience in local infrastructure development, for this venture.

The executive members of the Foundation are academicians and professionals with distinguished backgrounds. Prof P K Khosla, Ex-Vice Chancellor, HPAU (Palampur) and former Advisor, Biotechnology (H P Government) is at the helm of the management and functioning of the Foundation.