In a major boost to India’s biotechnology sector, the Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a unified biotechnology scheme ‘Biotechnology Research Innovation and Entrepreneurship Development’ (Bio-RIDE), with an outlay of Rs 9,197 crore. The scheme aims to foster innovation, promote bio-entrepreneurship, and position India as a global leader in biomanufacturing.
At the post-Cabinet press briefing, Union Minister Ashwini Vaishnaw said, "The approval of the Bio-RIDE scheme marks a significant step forward in India’s mission to harness biotechnology for addressing national and global challenges. This initiative will play a key role in advancing research, driving product development, and bridging the gap between academic research and industrial applications."
The Bio-RIDE scheme merges two existing umbrella schemes under the Department of Biotechnology (DBT) and introduces a new component on biomanufacturing and biofoundry. It is designed with three core components: Biotechnology Research and Development (R&D), Industrial & Entrepreneurship Development (I&ED), and Biomanufacturing and Biofoundry.
The proposed outlay of Rs 9,197 crore will be implemented during the 15th Finance Commission period from 2021-22 to 2025-26. The scheme focuses on areas such as synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
"Bio-RIDE will nurture a thriving ecosystem for startups by providing seed funding, incubation support, and mentorship to bio-entrepreneurs. This will create synergies between academic institutions, research organisations, and industries to accelerate the commercialisation of bio-based products and technologies," Vaishnaw further added.
A key aspect of Bio-RIDE is its alignment with the ‘Lifestyle for the Environment (LiFE)’ initiative, which aims to mitigate climate change through green solutions. The biomanufacturing and biofoundry component will promote sustainable practices in biomanufacturing, furthering India’s green goals.
The DBT has set an ambitious target to make India a $300-billion bioeconomy by 2030. "With Bio-RIDE, we are laying the foundation for ‘Viksit Bharat 2047’ by supporting cutting-edge research and nurturing talent in the biotechnology sector," the government said in a statement.
The scheme will also focus on developing human resources in biotechnology, with programs aimed at skilling students, young researchers, and scientists in modern biotech fields. "This will help expand India’s cohort of highly skilled workers and intensify the momentum of biotechnology-driven entrepreneurship," the statement added.
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