Bio-RIDE Scheme

Current Context : Union Cabinet approves Bio-RIDE scheme to boost biotechnology research, innovation, and entrepreneurship.

ADDITIONAL INFORMATION

• Launched by India’s Department of Biotechnology (DBT).
• Bio-RIDE combines two existing schemes — Biotechnology Research and Development (R&D) and Industrial and Entrepreneurship Development (I&ED)
• It includes a new component, ‘Bio-manufacturing and Bio-foundry’,”
• The scheme will offer grants and incentives for cutting-edge research and development in areas such as synthetic biology, bio-pharmaceuticals, bio-energy, and bio-plastics.

OBJECTIVES:

• Fostering Innovation: It supports pioneering research in fields like synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
• Promoting Bio-Entrepreneurship: Provides seed funding, incubation, and mentorship for startups in biotechnology.
• Industry-Academia Collaboration: Encourages partnerships to facilitate the commercialization of research and bio-based products.
• Sustainable Biomanufacturing: Aligns with India’s environmental goals through sustainable practices in biomanufacturing.