The Union Cabinet has approved the continuation of the Department of Biotechnology’s (DBT) umbrella schemes, now unified under the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) initiative. The scheme, which includes a new component focused on Biomanufacturing and Biofoundry, has a budget of Rs 91.97 billion for the 15th Finance Commission period (2021-2026).
Bio-RIDE aims to strengthen India’s position in biotechnology and biomanufacturing by fostering innovation, promoting bio-entrepreneurship, and bridging the gap between academic research and industrial applications. The scheme will accelerate research and product development in critical areas such as healthcare, agriculture, environmental sustainability, and clean energy.
Key components of the Bio-RIDE scheme include:
Biotechnology Research and Development (R&D): Grants and incentives for cutting-edge research in synthetic biology, biopharmaceuticals, bioenergy, and more.
Industrial & Entrepreneurship Development (I&ED): Support for startups through seed funding, incubation, and mentorship.
Biomanufacturing and Biofoundry: Focus on sustainable biomanufacturing aligned with India’s green goals.
Bio-RIDE will encourage collaborations between academic institutions and industries, nurture human resources, and provide extramural funding to research institutions. The scheme also supports the growth of India’s bioeconomy, aiming to contribute to the nation’s vision of becoming a US$300 billion bioeconomy by 2030, with significant contributions towards the goal of Viksit Bharat 2047.