Union Cabinet Approves Bio-RIDE Scheme to Boost Biotechnology Research and Entrepreneurship
| Aspect | Details |
|---|---|
| Scheme Name | Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) |
| Approval Authority | Union Cabinet |
| Financial Outlay | ₹9,197 crore |
| Duration | 15th Finance Commission period (2021-22 to 2025-26) |
| Components | Combines Biotechnology R&D, Industrial and Entrepreneurship Development (I&ED), and introduces 'Bio-manufacturing and Bio-foundry' |
| Objectives | Drive innovation, support startups, and promote bio-entrepreneurship |
| Support Mechanisms | Seed funding, incubation, and mentorship |
| Target Areas | Synthetic biology, bio-pharmaceuticals, bio-energy, bio-plastics |
| Focus on Sustainability | Aligns with India's green goals and sustainable practices in bio-manufacturing |