The Union Cabinet recently approved the Bio-RIDE scheme (Biotechnology Research Innovation and Entrepreneurship Development) to enhance cutting-edge research and development in biotechnology.
About the Bio-RIDE Scheme:
- It aims to position India as a global leader in biomanufacturing and biotechnology while promoting bio-entrepreneurship.
- Nodal Department: Ministry of Science & Technology.
- Proposed Outlay: ₹9,197 crore for the period from 2021-22 to 2025-26.
Objectives of the Scheme:
- Achieve a US$300 billion bioeconomy by 2030.
- Strengthen India’s global position in biotechnology and biomanufacturing.
- Foster a thriving ecosystem for startups and encourage bio-entrepreneurship.
Components of the Bio-RIDE Scheme:
- Biotechnology Research and Development (R&D):
- Focus on human resource development, bioinformatics, and biotech facilities.
- Establishment of Centers of Excellence.
- Industrial & Entrepreneurship Development (I&ED):
- Assistance for Public-Private Partnership programs.
- Development of bio-clusters and biotech parks.
- Biomanufacturing and Biofoundry (B&B):
- New component aimed at establishing a circular bioeconomy.
- Aligns with the ‘Lifestyle for the Environment (LiFE)’ initiative.
- Aims to use renewable natural capital to manage land, food, health, and industrial systems for sustainable well-being.
Significance of the Bio-RIDE Scheme
- Promotes Bio-Entrepreneurship: Nurtures startups through seed funding, incubation, and mentorship.
- Advances Innovation: Provides grants and incentives for cutting-edge research in synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
- Facilitates Industry-Academia Collaboration: Creates synergies to accelerate the commercialization of bio-based products and technologies.
- Encourages Sustainable Biomanufacturing: Focus on environmentally sustainable practices in biomanufacturing aligned with national green goals.
- Supports Human Resource Development: Offers holistic development for students, young researchers, and scientists in biotechnology.
- Extramural Funding: Provides funding from external sources to support research institutions, universities, and individual researchers in diverse fields of biotechnology.
- Circular Bioeconomy Initiative
- The Biomanufacturing and Biofoundry component aims to create a circular bioeconomy in line with the LiFE initiative.
- Focus on developing indigenous solutions to improve healthcare, enhance agricultural productivity, and foster the growth of the bioeconomy.
Ref: Source
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Frequently Asked Question:
What is the objective of the Bio-RIDE scheme?
The scheme aims to enhance biotechnology research, promote bio-entrepreneurship, and position India as a global biomanufacturing leader.
Which department manages the Bio-RIDE scheme?
The Department of Biotechnology under the Ministry of Science & Technology administers the scheme
What is the funding allocation for the Bio-RIDE scheme?
The scheme has a proposed outlay of ₹9,197 crore for the period from 2021-22 to 2025-26.
How does Bio-RIDE support bio-entrepreneurship?
It nurtures startups through seed funding, incubation, mentorship, and grants for cutting-edge biotech research.
What is the significance of the circular bioeconomy in the Bio-RIDE scheme?
It aims to create a sustainable bioeconomy using renewable resources, aligned with the LiFE initiative for environmental sustainability.