Union Cabinet’s Landmark Approval for Bio-RIDE Scheme: Revolutionizing Biotechnology Research and Development
Wednesday, 18 September 2024, 08:15
Union Cabinet’s Decision on Bio-RIDE Scheme
The Union Cabinet has given the green light to the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme, aimed at supporting innovative research and development in biotechnology.
Key Aspects of the Bio-RIDE Initiative
- Bio-RIDE combines two existing schemes: R&D and Industrial Development.
- Allocates Rs 9,197 crore for implementation through 2025-26.
- Focuses on bio-manufacturing and bio-foundry innovations.
Strategic Goals of the Bio-RIDE Scheme
- Enhance India’s position in global biotechnology.
- Bridge gaps between academic research and industrial applications.
- Promote environmentally sustainable practices.
This scheme also provides funding, incubation, and mentorship to budding bio-entrepreneurs, facilitating advancements in various sectors such as synthetic biology, bio-pharmaceuticals, and clean energy. The implementation is poised to kickstart a thriving ecosystem for innovative startups.
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.