B2G Initiatives: Cabinet Greenlights Biotech Startups via Bio-RIDE Scheme
B2G Initiatives: Bio-RIDE Scheme Unveiled
In a strategic move to bolster biotech startups, the Cabinet has approved the Bio-RIDE scheme, which stands for 'Biotechnology Research Innovation and Entrepreneurship Development.' With a substantial budget of INR 9,197 Cr earmarked until FY26, this initiative aims to unleash the potential of biotechnology in addressing pressing challenges.
Key Components of the Bio-RIDE Scheme
- Biotechnology Research and Development
- Industrial and Entrepreneurship Development (I&ED)
- Biomanufacturing and Biofoundry
To foster innovation, the government promises to provide seed funding, incubation support, and itineraries for mentorship to bio-entrepreneurs. Grants and incentives will also be available for R&D projects focusing on critical areas such as synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
Strategic Goals of the Bio-RIDE Scheme
The Bio-RIDE scheme is a crucial element of the government's broader mission to harness bio-innovation to tackle national and global challenges in 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.