The scheme has three broad components:
• Biotechnology R&D;
• Industrial & Entrepreneurship Development (I&ED)
• Biomanufacturing and Biofoundry
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved continuation of the two umbrella schemes of Department of Biotechnology (DBT), merged as one scheme-‘Biotechnology Research Innovation and Entrepreneurship Development (Bio- RIDE)’ with a new component namely Biomanufacturing and Biofoundry.
The proposed outlay for the implementation of the unified scheme ‘Bio-RIDE’ is Rs.9197 crore during the 15th finance Commission period from 2021-22 to 2025-26.
Bio-RIDE scheme is designed to foster innovation, promote bio-entrepreneurship, and strengthen India’s position as a global leader in biomanufacturing and biotechnology. It aims to accelerate research, enhance product development, and bridge the gap between academic research and industrial applications. The scheme is part of the Government of India’s mission to harness the potential of bio-innovation to tackle national and global challenges such as healthcare, agriculture, environmental sustainability, and clean energy.
Further, to enable Circular-Bioeconomy in the country a component on Biomanufacturing and Biofoundry is being initiated in alignment with ‘Lifestyle for the Environment (LiFE)’ launched by the Hon’ble PM to propel mitigation of global climate change by incorporating green and friendly environmental solutions in every aspect of life.
