In a major push to accelerate India's biotechnology sector, the Union Cabinet has approved the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme. This comprehensive initiative is designed to enhance research, innovation, and entrepreneurship in the biotechnology field, aligning with the government's vision to achieve a $300 billion bioeconomy by 2030.
The Bio-RIDE scheme integrates two existing programs—Biotechnology Research and Development, and Industrial and Entrepreneurship Development—with a new focus on Biomanufacturing and Biofoundry. With an allocated budget of ₹9,197 crore for the 15th Finance Commission period (2021-22 to 2025-26), the investment is expected to propel research, promote product development, and bridge the gap between academic research and industrial applications.
Key objectives of the scheme include fostering bio-entrepreneurship, providing seed funding and incubation for startups, and offering mentorship. Bio-RIDE will prioritize research in cutting-edge areas such as synthetic biology, bio-pharmaceuticals, bio-energy, and bio-plastics. Additionally, the scheme aims to promote environmentally sustainable practices in biomanufacturing, contributing to India’s green goals.
As per India Education Diary reports, the approval of Bio-RIDE marks a significant step in harnessing biotechnology innovation to address national and global challenges in healthcare, agriculture, clean energy, and environmental sustainability. By supporting innovation, entrepreneurship, and sustainable biomanufacturing, the scheme is expected to play a pivotal role in India’s bioeconomy growth.
With Bio-RIDE, India aims to strengthen its position as a global hub for biotechnology research and development. The initiative is set to create new opportunities for scientists, entrepreneurs, and industries, contributing to sustainable economic development and innovation in the country. The implementation of Bio-RIDE is poised to significantly impact the country’s bioeconomy, fostering growth, technological advancement, and sustainable practices across key sectors.
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