The Union Cabinet, led by Prime Minister Narendra Modi, has approved the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme. This scheme is a merger of two existing Department of Biotechnology (DBT) programs. A new component called Biomanufacturing and Biofoundry has also been added to the Bio-RIDE scheme.
Key Components of the Bio-RIDE Scheme
The Bio-RIDE scheme focuses on three main areas:
- Biotechnology Research and Development (R&D): This component aims to advance research in cutting-edge areas like synthetic biology, biopharmaceuticals, and bioenergy.
- Industrial and Entrepreneurship Development (I&ED): This part promotes bio-entrepreneurship by providing financial support, incubation, and mentorship to startups.
- Biomanufacturing and Biofoundry: This newly introduced part focuses on environmentally friendly biomanufacturing, including automated processes for creating biotechnology products.
The scheme has been allocated Rs. 9197 crore and will run from 2021-22 to 2025-26, aligning with the 15th Finance Commission period.
Why the Bio-RIDE Scheme Was Launched
India aims to become a global leader in biotechnology and biomanufacturing. The Bio-RIDE scheme was launched to:
- Promote innovation in biotechnology research.
- Support startups in the bio-entrepreneurship space.
- Strengthen the collaboration between academic research and industry for faster commercialization of bio-based products.
- Ensure that biotechnology innovations are environmentally sustainable.
National Impact
The scheme will have a positive impact on several sectors:
- Healthcare: By promoting biopharmaceuticals and bio-based solutions, India can improve healthcare outcomes.
- Agriculture: Innovations in biotechnology can enhance agricultural productivity.
- Clean Energy: The focus on bioenergy will help India meet its clean energy goals and contribute to the global fight against climate change.
Aims of the Scheme
- Foster Innovation: Bio-RIDE will fund research in emerging biotechnology fields like synthetic biology and bioplastics.
- Support Startups: The scheme will create a strong ecosystem for startups by offering seed funding and incubation support.
- Promote Sustainability: It aligns with India’s green goals by promoting sustainable biomanufacturing practices.
- Develop Skilled Workforce: The scheme will nurture young scientists and researchers, preparing them for the future of biotechnology.
Key Summary of the Bio-RIDE Scheme
- Merged Schemes: Combines two DBT schemes into one, with a focus on innovation and entrepreneurship.
- New Component: Introduces Biomanufacturing and Biofoundry for automated biotechnology production.
- Budget: Allocated Rs. 9197 crore for the 15th Finance Commission period (2021-22 to 2025-26).
National and Global Impact: Focuses on improving healthcare, agriculture, and energy, while contributing to environmental sustainability.
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The Biotechnology Research Innovation and Entrepreneurship Development scheme is a government initiative to promote biotechnology research, innovation, and entrepreneurship.
It has three components: Biotechnology R&D, Industrial & Entrepreneurship Development, and Biomanufacturing & Biofoundry.
The scheme has been allocated Rs. 9197 crore for the period from 2021-22 to 2025-26.
The scheme will provide seed funding, incubation support, and mentorship to biotechnology startups.
It focuses on automated biotechnology production with an emphasis on sustainability and innovation.
