Bio-RIDE Scheme: Government's Strategic Initiative in Biotechnology R&D

Overview of the Bio-RIDE Scheme

The Union Cabinet on Wednesday approved the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme to support cutting-edge research and development in biotechnology.

Components of Bio-RIDE

• Bio-RIDE combines two existing schemes - Biotechnology Research and Development (R&D) and Industrial and Entrepreneurship Development (I&ED).
• Introduces a new section focusing on Bio-manufacturing and Bio-foundry.

Financial Commitment

The proposed outlay for the Bio-RIDE scheme's implementation is Rs 9,197 crore during the 15th Finance Commission period from 2021-22 to 2025-26.

Strategic Goals

• The scheme aims to foster innovation, promote bio-entrepreneurship, and enhance India's global standing in bio-manufacturing and biotechnology.
• It will support research and development in critical areas such as synthetic biology, bio-pharmaceuticals, bio-energy, and bio-plastics.

Environmental Sustainability Focus

An essential part of the initiative is its commitment to environmentally sustainable practices in bio-manufacturing, aligning with India's green goals.

Supporting Startups

The implementation of the Bio-RIDE scheme will nurture a thriving ecosystem for startups, providing seed funding, incubation support, and mentorship to emerging bio-entrepreneurs.