News: The Department of Pharmaceuticals has invited applications for research and innovation projects under its Promotion of Research and Innovation in Pharma-MedTech Sector (PRIP) scheme.
About Promotion of Research & Innovation in Pharma-MedTech Sector (PRIP) Scheme
- It is an initiative to transform the Indian Pharma MedTech sector into a globally competitive, innovation-driven sector by strengthening the research infrastructure in the country.
- Launched by: Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers.
- Aim: To promote industry-academia linkage for R & D in priority areas, inculcate a culture of quality research, and nurture pool of scientists.
- Implementation: An Empowered Committee under the chairmanship of the CEO, NITI Aayog, with Secretary level representation of Pharmaceuticals, Health, ICMR, DBT, CSIR, AYUSH, and DST will provide guidance for the implementation of this Scheme.
- Features of the scheme
- Industry-Academia Collaboration: It encourages industry and startups to collaborate with reputed Government, academic, and research institutions (“Academia”) for both Early Stage and later-stage projects.
- Component of the scheme: The Scheme is applicable for research and innovation for both human and animal health and has two components:
- Component A: Strengthening the research infrastructure by establishment of 7 CoEs at NIPERs-These CoEs would be set up in pre identified areas with a financial outlay of Rs 700 Crores.
- Component B: Promoting research in pharmaceutical sector by encouraging research in six priority areas wherein financial assistance will be provided for the Industries, MSME, SME, Startups working with government institutes and for both in- house and academic research.
- Key focus areas of the scheme: The six focus areas of the scheme are new chemical entities, including biological and phytopharmaceuticals; complex generics and biosimilars, precision medicines such as gene therapy and stem cells; medical devices using artificial intelligence and machine learning; orphan drugs and anti-microbial resistance.
- Support for innovation from idea to market: Early-stage projects with costs up to ₹9 crore can receive assistance of up to ₹5 crore, while later-stage projects with costs up to ₹285 crore are eligible for assistance of up to ₹100 crore.
