New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a ₹9,197 crore outlay for the new ‘Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)’ scheme. The scheme, merging two existing programs under the Department of Biotechnology (DBT), is part of India’s broader effort to become a global leader in biomanufacturing and biotechnology by 2030.
Bio-RIDE will run through the 15th Finance Commission period (2021-22 to 2025-26) and focus on three core components: Biotechnology Research and Development (R&D), Industrial & Entrepreneurship Development (I&ED), and Biomanufacturing and Biofoundry.
The scheme is designed to accelerate innovation, support bio-entrepreneurship, and bridge the gap between academic research and industrial applications. The initiative aims to foster collaboration between academic institutions, research organizations, and industries to accelerate commercialization of bio-based products and technologies.
“The Bio-RIDE scheme will promote bio-entrepreneurship by nurturing startups with seed funding, incubation support, and mentorship,” said a statement from the DBT. A new component, Biomanufacturing and Biofoundry, will focus on sustainable biomanufacturing practices aligned with India’s green goals under the ‘Lifestyle for the Environment (LiFE)’ initiative.
The DBT also emphasized that the scheme will help India achieve its goal of becoming a $300 billion bioeconomy by 2030. The initiative supports innovation in areas such as synthetic biology, biopharmaceuticals, bioenergy, and bioplastics, with the aim of tackling key challenges in healthcare, agriculture, and environmental sustainability.
Bio-RIDE also aims to create a skilled workforce in biotechnology, contributing to capacity building and preparing India for the global competition in biotechnology research and entrepreneurship.
