The Union Cabinet, under the leadership of Prime Minister Narendra Modi, has approved a groundbreaking initiative to elevate India’s position in the global biotechnology sector.
The scheme, named ‘Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)’, merges two existing programs into one comprehensive framework designed to accelerate advancements in biotechnology.
The Bio-RIDE scheme, with an ambitious allocation of Rs. 9197 crore for the 15th Finance Commission period (2021-22 to 2025-26), features three primary components:
- Biotechnology Research and Development (R&D)
- Industrial & Entrepreneurship Development (I&ED)
- Biomanufacturing and Biofoundry
This initiative aims to drive innovation, bolster bio-entrepreneurship, and solidify India’s role as a global leader in biomanufacturing and biotechnology.
The scheme seeks to bridge the gap between cutting-edge academic research and practical industrial applications, addressing critical areas such as healthcare, agriculture, environmental sustainability, and clean energy.
Key Highlights of the Bio-RIDE Scheme:
- Promotion of Bio-Entrepreneurship: The scheme will support startups with seed funding, incubation, and mentorship, nurturing a robust ecosystem for emerging bio-entrepreneurs.
- Advancement of Innovation: Grants and incentives will be provided for pioneering research in synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
- Facilitation of Industry-Academia Collaboration: Bio-RIDE will foster partnerships between academic institutions, research organizations, and industry players to expedite the commercialization of bio-based technologies.
- Encouragement of Sustainable Biomanufacturing: A key focus will be on promoting environmentally friendly biomanufacturing practices, aligning with India’s green goals.
- Support for Researchers through Extramural Funding: The scheme will fund research institutions, universities, and individual researchers in diverse fields such as agriculture, healthcare, and environmental sustainability.
- Human Resource Development: Bio-RIDE will support the holistic development of students, young researchers, and scientists, building capacity and enhancing skills in biotechnology.
A notable new component of the Bio-RIDE scheme is the emphasis on Biomanufacturing and Biofoundry, which aligns with the ‘Lifestyle for the Environment (LiFE)’ initiative.
This component aims to advance circular bioeconomy practices, enhance healthcare outcomes, boost agricultural productivity, and drive the growth of bio-based products.
The Department of Biotechnology (DBT), part of the Ministry of Science and Technology, is spearheading this initiative to harness biotechnology’s potential as a tool for national development.
The Bio-RIDE scheme is a key element of the government’s vision to make India a $300 billion bioeconomy by 2030 and contribute to the broader goal of a ‘Viksit Bharat 2047’.
