The Government of India has approved the Bio-RIDE scheme worth ₹9,197 crore for 2021-26. It aims to promote innovation, encourage bio-entrepreneurship for startups and make India a global leader in bio-production. The scheme will accelerate research, enhance product development and strengthen collaboration between academic and industrial sectors. Also, it will help address national and global challenges in areas such as health, agriculture, environmental sustainability and clean energy.
Cabinet Approves ₹9,197 Crore Bio-RIDE Scheme to Boost Biotechnology Innovation
The Union Cabinet, chaired by PM Narendra Modi, has approved the Bio-RIDE (Biotech Research, Innovation, and Development Enterprise) scheme. It aims to strengthen India’s biotechnology sector by merging two existing DBT programs. Running from 2021 to 2026, the scheme allocates ₹9,197 crore to support research in healthcare, agriculture, and sustainability, and to encourage bio-entrepreneurship and startups.
The scheme is set to facilitate industry-academia partnerships, promote innovation, and address national challenges. The scheme aligns with the government’s vision of building a $300 billion bioeconomy by 2030 and contributing to the ‘Viksit Bharat 2047’ goal.
Key steps under the scheme
- Promoting bio-entrepreneurship: Startups will be provided financial assistance, guidance and incubation support.
- Promoting innovation: Grants will be provided for research and development in areas such as synthetic biology, biopharmaceuticals, bioenergy and bioplastics.
- Academic and industrial collaboration: The scheme will strengthen partnerships between academic institutions and industries.
- Sustainable bio-production: Eco-sensitive production will be promoted in line with India’s environmental goals.
- Support to scientific research: External funding will be provided for research in areas such as agriculture, health, bioenergy and environmental sustainability.
- Human resource development in biotechnology: Students, researchers and scientists will get training and skill development support.
This scheme will help in achieving the goal of ‘Vikshit Bharat 2047’ and making India a $300 billion bioeconomy by 2030.
