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Source- This post on Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme is based on the article “Cabinet approves ‘Bio-RIDE’ scheme to support cutting edge research and development in Biotechnology” published in PIB on 19th September 2024.
Why in News?
The Union Cabinet recently approved the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme.
About Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme
| Aspects | Description |
| About | 1. The scheme is the consolidation of two existing schemes under the Department of Biotechnology (DBT). 2. The scheme is bolstered by a new component focused on Biomanufacturing and Biofoundry. 3. It promotes a robust ecosystem for startups by offering support through grants, incubation, and mentorship to bio-entrepreneurs. 4. The Bio-RIDE scheme is part of DBT’s vision to make India a global leader in biotechnology research, innovation, and industrial growth |
| Objectives | 1. It is to provides funding and incentives for R&D in key biotechnology areas such as synthetic biology, biopharmaceuticals, bioenergy, and bioplastics, accelerating innovation. 2. It is to encourages partnerships between academic institutions, research organizations, and industries to commercialize bio-based products and technologies. 3. It is to emphasizes environmentally sustainable practices in biomanufacturing, aligned with India’s green goals and climate change mitigation. 4. It is to offers extramural funding for research institutions, universities, and individual researchers focusing on agriculture, healthcare, bioenergy, and environmental sustainability. |
| Focus | Integration of Biomanufacturing and Biofoundry to support Circular-Bioeconomy, aligned with the Lifestyle for the Environment (LiFE) initiative |
| Components | 1. Biotechnology Research and Development (R&D): It supports cutting-edge research and development in various fields of biotechnology, enhancing innovation and fostering breakthroughs in technology. 2. Industrial & Entrepreneurship Development (I&ED): It focuses on promoting bio-entrepreneurship through seed funding, incubation, and mentorship, providing bio-entrepreneurs with a strong foundation for growth. 3. Biomanufacturing and Biofoundry: It aimed at driving sustainable and innovative biomanufacturing processes to boost India’s bioeconomy, addressing global and national challenges. |
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