Government Approves Rs 9,197 Crore Bio-RIDE Scheme to Enhance Biotechnology and Biofoundry

The Union Cabinet on Wednesday approved a landmark decision to consolidate two key umbrella schemes under the Department of Biotechnology (DBT) into a unified framework named the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme. With a total outlay of Rs. 9,197 crore spanning the 15th Finance Commission period from 2021-22 to 2025-26, this initiative is designed to foster innovation and entrepreneurship in biotechnology, alongside strengthening India's biomanufacturing capabilities.

Overview of the Bio-RIDE Scheme: Boosting Biotechnology and Biomanufacturing

The newly launched Bio-RIDE scheme merges two prominent Department of Biotechnology (DBT) schemes to create a more streamlined and efficient approach towards the advancement of biotechnology in India. This initiative not only supports research but also aims to bridge the gap between academic research and industrial applications, setting the stage for India to become a global leader in biotechnology.

Biomanufacturing and Biofoundry: Paving the Way for a Circular Bioeconomy

One of the most significant aspects of the Bio-RIDE scheme is the introduction of a new component called Biomanufacturing and Biofoundry. This element is intended to accelerate the development of indigenous solutions in sectors like healthcare and agriculture, while also contributing to the creation of a circular bioeconomy.

The concept of a circular bioeconomy aligns with Prime Minister Modi’s ‘Lifestyle for the Environment (LiFE)’ mission, which emphasizes sustainability and climate change mitigation through eco-friendly practices. By focusing on biomanufacturing, India aims to enhance sustainability in key areas such as food security, healthcare, and environmental protection, while developing innovative bio-based products.

Advancing India’s Biotechnology Capabilities

With Biomanufacturing and Biofoundry, India is poised to make significant advancements in bio-based manufacturing techniques. This move will help the country develop local solutions for global challenges, thus reducing reliance on imported technologies and strengthening India's biotechnology sector.

Strengthening Research, Innovation, and Entrepreneurship Ecosystem

The Bio-RIDE scheme is not just about advancing biotechnology; it also emphasizes fostering entrepreneurship. By providing seed funding, incubation, and mentorship to startups, the scheme aims to nurture a strong entrepreneurial ecosystem in India. This is expected to encourage bio-entrepreneurs to develop cutting-edge products that will find applications in healthcare, agriculture, and industrial biotechnology.

Supporting Startups and Bio-Entrepreneurs

One of the key goals of the Bio-RIDE scheme is to create a favorable environment for startups and emerging businesses in biotechnology. By offering financial and mentorship support, the government intends to fast-track commercialization of bio-based innovations, turning them into viable products and solutions that can be brought to market.

Bridging Academia, Research, and Industry

Another focus of Bio-RIDE is to foster collaborations between academic institutions, research organizations, and industry. This collaboration is expected to accelerate product development and shorten the time it takes for breakthroughs in research to reach the market, thereby increasing India’s global competitiveness in biotechnology.

Empowering Young Researchers and Human Resource Development

The Bio-RIDE scheme also emphasizes the importance of human resource development. Through this initiative, young researchers, students, and scientists in biotechnology will be provided with opportunities to enhance their skills and develop expertise in the latest advancements within the sector.

Building a Skilled Workforce in Biotechnology

With Bio-RIDE, India aims to build a workforce capable of utilizing cutting-edge technologies to address global challenges in biotechnology. The scheme will provide training and research opportunities for individuals at various stages of their academic and professional careers, ensuring the next generation of biotechnologists is well-equipped to push the boundaries of innovation.

Incentivizing Research and Development

In addition to skill-building, Bio-RIDE will incentivize research and development (R&D) by offering support to young scientists. The aim is to keep India at the forefront of technological developments and enable it to stay competitive on a global scale.

India’s Ambitious Bioeconomy Goal for 2030

With the introduction of the Bio-RIDE scheme, India is positioning itself to become a global leader in biotechnology. The initiative is expected to play a crucial role in helping India achieve its ambitious target of becoming a $300 billion bioeconomy by 2030.

Contributing to ‘Viksit Bharat 2047’

By nurturing innovation, entrepreneurship, and sustainable biomanufacturing, Bio-RIDE is set to contribute substantially towards India’s long-term vision of ‘Viksit Bharat 2047,’ where biotechnology will play a critical role in the country’s overall development. The government’s focus on R&D, product development, and commercialization will create a thriving biotech ecosystem that can drive growth across multiple sectors.