Cabinet Approves Bio-RIDE Scheme to Boost India's Biotech Sector

The Bio-RIDE scheme is set to play a significant role in achieving India’s bioeconomy vision of becoming a $300 billion sector by 2030.

The Union Cabinet on Wednesday approved the continuation of two major schemes under the Department of Biotechnology (DBT), merging them into a unified initiative called the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme.

With a budget of INR 9,197 Cr for the period of the 15th Finance Commission (2021-22 to 2025-26), Bio-RIDE aims to strengthen India's biotechnology capabilities and promote bio-entrepreneurship.

Bio-RIDE has been developed to foster innovation, speed up product development, and bridge the gap between academic research and industrial applications.

The scheme also seeks to create a robust entrepreneurial ecosystem, supporting startups with seed funding, incubation, and mentorship.

Highlights Bio-RIDE Scheme

A key component of the Bio-RIDE scheme is the newly introduced Biomanufacturing and Biofoundry initiative.

This addition is designed to enhance India’s biotechnology and biomanufacturing sectors, focusing on developing sustainable and indigenous solutions for healthcare, agriculture, and other vital areas.

The initiative aligns with PM Modi’s ‘Lifestyle for the Environment (LiFE)’ mission, which emphasizes environmentally friendly practices to combat climate change.

By encouraging collaboration between academic institutions, research organizations, and industry players, the initiative will accelerate the commercialization of bio-based products and technologies.

In addition to supporting research and development, Bio-RIDE will focus on human resource development by offering skill-enhancement opportunities to young researchers, students, and scientists. This will enable them to harness the latest advancements in biotechnology.

The scheme is set to play a significant role in achieving India’s bioeconomy vision of becoming a $300 billion sector by 2030.

Bio-RIDE's emphasis on innovation, entrepreneurship, and sustainable biomanufacturing is expected to contribute to the broader goal of a ‘Viksit Bharat 2047,’ where biotechnology plays a crucial role in national development.

In a similar development, last month, the Union Cabinet approved the 'BioE3' (Biotechnology for Economy, Environment, and Employment) policy, aimed at boosting biomanufacturing under the Department of Biotechnology.

Information Minister Ashwini Vaishnaw stated that the policy will promote innovation-driven R&D and entrepreneurship by establishing biomanufacturing hubs, bio-AI hubs, and biofoundries.

This initiative is expected to drive economic growth and support sustainable practices in India's biotechnology sector.

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