B2G Bio-RIDE Scheme: A Comprehensive Strategy For Biotech Startups
Introduction to Bio-RIDE Scheme
The Cabinet has sanctioned the Bio-RIDE scheme aimed at fostering innovation in the biotech sector. This initiative, backed by a budget of INR 9,197 Cr till FY26, seeks to streamline and enhance support for budding biotech entrepreneurs.
Objectives of the Bio-RIDE Scheme
- To merge two significant schemes under the Department of Biotechnology.
- To introduce a new component targeting Biomanufacturing and Biofoundry.
- To offer comprehensive support through various funding channels.
Core Components
The Bio-RIDE scheme consists of three vital components:
- Biotechnology Research and Development
- Industrial and Entrepreneurship Development (I&ED)
- Biomanufacturing and Biofoundry
Support Mechanisms
Under this scheme, the government will provide seed funding and robust incubation support, alongside mentorship programs tailored for bio-entrepreneurs. Additionally, grants and incentives will be available for Research & Development in critical areas such as synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
National and Global Impact
The Bio-RIDE scheme underlines the government's commitment to harnessing bio-innovation for addressing national challenges across various sectors including healthcare, agriculture, environmental sustainability, and clean energy.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.