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About The Bio-RIDE Scheme

Context:

Recently, the Union Cabinet, chaired by the Prime Minister of India approved continuation of the two umbrella schemes of Department of Biotechnology (DBT), merged as one scheme-‘Biotechnology Research Innovation and Entrepreneurship Development (Bio- RIDE).

Relevance:

GS II: Government Policies and Interventions

Dimensions of the Article:

  1. Bio-RIDE Initiative
  2. Strategic Implementation Focus

Bio-RIDE Initiative:

  • The Bio-RIDE scheme is crafted to catalyze innovation, bolster bio-entrepreneurship, and position India as a foremost player in the global biomanufacturing and biotechnology sector.
  • The initiative seeks to expedite research, enhance the development of products, and seamlessly integrate academic research into industrial applications.
Components of the Scheme:
  • Research and Development: Focus on advancing biotechnology research.
  • Industrial and Entrepreneurship Development: Aimed at boosting industrial growth and entrepreneurship within the biotech sector.
  • Biomanufacturing and Biofoundry: A novel addition targeting advancements in biomanufacturing.
Mission and Funding:
  • Mission Alignment: Aligns with India’s strategy to leverage bio-innovation for addressing key challenges in health, agriculture, environmental sustainability, and energy.
  • Financial Layout: An allocation of Rs.9197 crore has been earmarked for the duration of the 15th Finance Commission cycle from 2021-2022 to 2025-2026.

Strategic Implementation Focus:

  • Promoting Bio-Entrepreneurship: Fostering a vibrant startup ecosystem through seed funding, incubation support, and mentorship for bio-entrepreneurs.
  • Advancing Innovation: Offering grants and incentives for pioneering research in fields like synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
  • Enhancing Industry-Academia Collaboration: Strengthening partnerships between academia, research bodies, and the industry to hasten the commercialization of biotechnological innovations.
  • Supporting Sustainable Biomanufacturing: Emphasizing environmentally friendly practices in biomanufacturing that align with India’s ecological goals.
  • Extramural Research Support: Providing significant funding to bolster scientific research and technological advancements across various biotechnological domains.
  • Human Resource Development: Dedicated to enriching the skill set and capabilities of students, young researchers, and scientists in the biotechnology sector.

October 2024
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