Union Cabinet Unveils Bio-RIDE Scheme to Boost Biotechnology

The Union Cabinet, led by PM Narendra Modi, approved the Bio-RIDE scheme to bolster biotechnology research, innovation, and bio-entrepreneurship. With a budget of Rs 9197 crore, it aims to bridge the gap between research and industry, fostering a startup ecosystem in India's bioeconomy from 2021-22 to 2025-26.

The Union Cabinet, chaired by Prime Minister Narendra Modi, has sanctioned the continuation of two merged umbrella schemes under the Department of Biotechnology (DBT) into one comprehensive initiative called 'Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)' featuring a new biomanufacturing component.

The Bio-RIDE scheme boasts an outlay of Rs 9197 crore during the 15th Finance Commission period from 2021-22 to 2025-26. It is designed to foster innovation, promote bio-entrepreneurship, and solidify India's position as a global leader in biotechnology and biomanufacturing. The scheme aims to accelerate research, enhance product development, and bridge the gap between academic research and industrial applications.

As part of the Government of India's mission to use bio-innovation to address challenges in healthcare, agriculture, environmental sustainability, and clean energy, the scheme will create a vibrant ecosystem for startups through seed funding, incubation support, and mentorship. Key areas of research and development include synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.

(With inputs from agencies.)