A brief report
The Union Cabinet, presided over by Prime Minister Narendra Modi, has sanctioned the extension of the two overarching initiatives from the Department of Biotechnology (DBT), which are now combined into a single programme called 'Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)'. This new programme incorporates a fresh element focusing on Biomanufacturing and Biofoundry.
The initiative comprises three main segments:
a) Biotechnology Research and Development (R&D);
b) Industrial & Entrepreneurship Development (I&ED);
c) Biomanufacturing and Biofoundry.
The designated budget for executing the integrated programme 'Bio-RIDE' is Rs 9197 crore throughout the 15th Finance Commission period from 2021-22 to 2025-26.
The Bio-RIDE initiative is crafted to stimulate innovation, encourage Bio-Entrepreneurship, and reinforce India’s stature as a global frontrunner in biomanufacturing and biotechnology. Its goals include accelerating research, enhancing product development, and connecting academic research with industrial applications.
This programme aligns with the Indian Government’s agenda to harness bio-innovation to address both national and worldwide challenges such as healthcare, agriculture, environmental sustainability, and clean energy.
The implementation of the Bio-RIDE initiative will:
· Encourage Bio-Entrepreneurship
· Advance Innovation
· Facilitate Collaboration between Industry and Academia
· Promote Sustainable Biomanufacturing
· Provide researchers with Extramural funding
· Cultivate Human Resources in the Biotechnology sector
Moreover, to foster a Circular-Bioeconomy within the nation, a segment on Biomanufacturing and Biofoundry is being launched in harmony with 'Lifestyle for the Environment (LiFE)', introduced by the PM to drive efforts against global climate change by integrating green and environmentally-friendly solutions into all facets of life.