Bio-RIDE Scheme: A Leap Forward in Biotechnology and Entrepreneurship Development

Bio-RIDE Scheme Overview

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the continuation of the 'Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)' scheme with an overarching commitment to boosting biotechnology in India. This initiative is now unified under a single umbrella and incorporates a new focus on Biomanufacturing and Biofoundry.

Key Components of Bio-RIDE

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

With a substantial outlay of Rs 9197 crore planned from 2021-22 to 2025-26, the Bio-RIDE scheme seeks to foster innovation and strengthen India's prowess in biomanufacturing. It aims to expedite research and development, bridging the gap between academic research and practical industrial applications.

Driving Innovation and Sustainability

The scheme aspires to propel bio-entrepreneurship and tackles significant national challenges across healthcare, agriculture, and environmental sustainability. Support for seed funding, incubation, and mentorship for startups in the biotech sector will be a hallmark feature.

Focus on Environmental Sustainability

Alignment with India's green aspirations is crucial. The scheme will emphasize eco-friendly practices in biomanufacturing, reinforcing the government's mission to foster a Circular-Bioeconomy. This new directive aims to weave green solutions into various sectors, enhancing productivity while safeguarding the environment.

Strengthening Bioeconomy and Workforce

Bio-RIDE will stimulate collaboration between research institutions and industries, facilitating the commercialization of bio-based products and technologies. Additionally, it aims to scale India's bioeconomy by enhancing workforce skills and encouraging entrepreneurship.