Biotech in India is set to advance significantly with the Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approving the continuation of two major umbrella schemes under the Department of Biotechnology (DBT). These schemes have been consolidated into a single initiative called Bio-RIDE. A notable feature of this unified scheme is the introduction of a new component, ‘Biomanufacturing and Biofoundry,’ which aims to further boost the nation’s capabilities in biomanufacturing and innovation.
The initiative comprises three main segments: Biotechnology Research and Development (R&D), Industrial and Entrepreneurship Development (I&ED), and the newly introduced Biomanufacturing and Biofoundry. With an allocated budget of Rs. 9197 crore, Bio-RIDE is set to be implemented during the 15th Finance Commission period, spanning from 2021-22 to 2025-26.
The Bio-RIDE scheme is specifically designed to drive innovation, promote bio-entrepreneurship, and solidify India’s status as a global leader in the fields of biotech and biomanufacturing. Its primary objective is to fast-track research efforts, improve product development capabilities, and bridge the critical gap between academic research and its industrial applications.
As part of the Government of India’s larger mission, this scheme aims to unlock the transformative potential of bio-innovation to address pressing national and global challenges, including healthcare, agricultural productivity, environmental sustainability, and clean energy solutions.
One of the key pillars of the Bio-RIDE scheme is fostering bio-entrepreneurship. By offering seed funding, incubation support, and mentorship, it seeks to cultivate a vibrant ecosystem for startups in the biotech space. The scheme also emphasizes advancing cutting-edge research and innovation by providing grants and financial incentives for pioneering developments in synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
Further strengthening the collaboration between academia and industry, Bio-RIDE encourages synergies between academic institutions, research organizations, and businesses. This partnership will facilitate the commercialization of bio-based technologies and products, driving both innovation and economic growth. In line with India’s environmental goals, the scheme also places a strong emphasis on sustainable biomanufacturing practices, promoting green technologies that align with the country’s broader environmental objectives.
A significant focus of the scheme will be on providing extramural funding to support researchers in diverse fields of biotech. This includes funding for research institutions, universities, and individual scientists working in critical areas such as healthcare, agriculture, bioenergy, and environmental sustainability.
Additionally, Bio-RIDE aims to nurture human capital in the biotech sector by offering comprehensive development programs for students, young researchers, and scientists. These initiatives will focus on building capacity and enhancing the skills of the workforce to prepare them for the rapidly evolving technological landscape.
An important new component of Bio-RIDE is the emphasis on Biomanufacturing and Biofoundry, which is closely aligned with the ‘Lifestyle for the Environment (LiFE)’ initiative launched by the Hon’ble Prime Minister. This aspect of the scheme is designed to accelerate the development of green, environmentally friendly solutions to mitigate global climate change.
The Biomanufacturing and Biofoundry initiative will tap into the immense potential of biomanufacturing to develop indigenous innovations that can improve healthcare outcomes, boost agricultural productivity, and foster the growth of India’s bioeconomy. It also aims to scale up the commercialization of bio-based products, expand the nation’s highly skilled workforce, and further stimulate entrepreneurial activity.
The mission is to make India a globally competitive leader in biotech research, innovation, entrepreneurship, and industrial growth, with a target of achieving a US$300 billion bioeconomy by 2030. Ultimately, the Bio-RIDE scheme will play a crucial role in realizing the broader vision of a ‘Viksit Bharat 2047,’ contributing to India’s advancement as a knowledge-driven and innovation-led nation.
