The Union Cabinet approved the ‘Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)’ scheme, with a budget of Rs 9,197 crore. It promotes innovation, bio-entrepreneurship, and sustainable biomanufacturing in the healthcare, agriculture, and environmental sectors. The scheme also introduces Biomanufacturing and Biofoundry to align with India’s green goals.
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The Union Cabinet, led by Prime Minister Narendra Modi, approved the continuation of two key schemes under the Department of Biotechnology (DBT), merging them into a unified scheme titled ‘Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)‘. A new component, Biomanufacturing, and Biofoundry, has also been introduced to foster innovation in biotechnology.
The Bio-RIDE scheme has three primary components: Biotechnology Research and Development (R&D), Industrial & Entrepreneurship Development (I&ED), and Biomanufacturing and Biofoundry. The approved budget for the scheme is Rs 9,197 crore for the period 2021-22 to 2025-26, as part of the 15th Finance Commission’s allocation.
The scheme aims to position India as a global leader in biotechnology and biomanufacturing, promoting bio-entrepreneurship and accelerating research and product development. It seeks to bridge the gap between academic research and industrial applications while addressing challenges in healthcare, agriculture, environmental sustainability, and clean energy. Startups will benefit from seed funding, incubation support, and mentorship under this initiative.
“Bio-RIDE” will fund advanced research in synthetic biology, biopharmaceuticals, bioenergy, and bioplastics, creating synergies between academia, research institutions, and industry for faster commercialization of bio-based products. The scheme also emphasizes promoting environmentally sustainable biomanufacturing practices to align with India’s green goals.
A new focus on Circular-Bioeconomy will support India’s Lifestyle for the Environment (LiFE) initiative, with an aim to mitigate climate change by incorporating eco-friendly solutions. Bio-RIDE aspires to drive healthcare improvements, enhance agricultural productivity, and foster bioeconomy growth, contributing to India’s target of becoming a US$300 billion Bioeconomy by 2030.
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