Bio-RIDE Scheme: A Landmark Initiative for Biotechnology Research and Entrepreneurial Growth

Introduction to Bio-RIDE

The Union Cabinet, led by Prime Minister Narendra Modi, has approved the continuation of the 'Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)' scheme. This innovative program merges two existing schemes from the Department of Biotechnology (DBT) with an emphasis on biomanufacturing. The outlay for this initiative is Rs 9197 crore during the 15th Finance Commission period from 2021-22 to 2025-26.

Components of the Bio-RIDE Scheme

• Biotechnology Research and Development (R&D)
• Industrial & Entrepreneurship Development (I&ED)
• Biomanufacturing and Biofoundry

This comprehensive framework aims to foster innovation and promote bio-entrepreneurship, reinforcing India’s stature as a leader in biotechnology.

Boosting Innovation and Environmental Sustainability

Bio-RIDE is crafted to support ground-breaking advancements in various fields including synthetic biology, biopharmaceuticals, bioenergy, and bioplastics. It intends to bridge the gap between academic research and industrial applications, thereby enhancing product development within the biotechnological landscape.

Creating Startups and Collaborations

The scheme is set to cultivate a vibrant startup ecosystem by offering seed funding and mentorship to bio-entrepreneurs. It will also create essential synergies between academic institutions and industry for faster commercialization of bio-based technologies.

Aligning with National Goals

In alignment with India's green goals, Bio-RIDE places a strong emphasis on promoting environmentally sustainable practices in biomanufacturing. This initiative is deeply rooted in fostering a Circular-Bioeconomy as part of the broader 'Lifestyle for the Environment (LiFE)' mission.

Looking Beyond: Aspirations for Biomanufacturing

Through the new components of Bio-RIDE, the DBT aims to enhance healthcare outcomes, increase agricultural productivity, and expand the skilled workforce in biotechnology. By fostering entrepreneurial momentum, this initiative seeks to change the landscape of biotechnology research and industrial growth in India, targeting a US$300 billion bioeconomy by 2030.