New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme. This initiative aims to support cutting-edge research and development in biotechnology, with a substantial outlay of ₹9,197 crore.
The Bio-RIDE scheme merges two existing programs: Biotechnology Research and Development (R&D) and Industrial and Entrepreneurship Development (I&ED), while introducing a new component focused on Biomanufacturing and Biofoundry. This comprehensive approach is designed to foster innovation, promote bio-entrepreneurship, and strengthen India’s position as a global leader in biomanufacturing and biotechnology.
Key Objectives of Bio-RIDE:
- Promote Bio-Entrepreneurship: The scheme will nurture a thriving ecosystem for startups by providing seed funding, incubation support, and mentorship to bio-entrepreneurs.
- Advance Innovation: Grants and incentives will be offered for cutting-edge research in areas such as synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
- Facilitate Industry-Academia Collaboration: Bio-RIDE aims to create synergies between academic institutions, research organizations, and industry to accelerate the commercialization of bio-based products and technologies.
- Encourage Sustainable Biomanufacturing: A significant focus will be placed on promoting environmentally sustainable practices in biomanufacturing, aligned with India’s green goals.
- Support Researchers: The scheme will provide extramural funding to research institutions, universities, and individual researchers in diverse fields of biotechnology.
- Nurture Human Resources: Bio-RIDE will support the holistic development of students, young researchers, and scientists, contributing to capacity building and skilling in the biotechnology sector.
The Bio-RIDE scheme is part of the Government of India’s mission to harness the potential of bio-innovation to tackle national and global challenges such as healthcare, agriculture, environmental sustainability, and clean energy. By bridging the gap between academic research and industrial applications, Bio-RIDE aims to accelerate research, enhance product development, and foster a sustainable bioeconomy.
