Government Launches Bio-RIDE to Promote Biotechnology Innovation and Entrepreneurship
Cabinet approves ‘Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)’
- Bio-RIDE is a merger of Biotechnology Research and Development & Industrial & Entrepreneurship Development (I&ED) of the Department of Biotechnology with a new component, i.e., Biomanufacturing and Biofoundry.
- Proposed outlay of the unified scheme is Rs. 9197 cr from 2021-22 to 2025-26.
Implementation of Bio-RIDE Scheme will:
- Promote Bio-Entrepreneurship.
- Advance Innovation.
- Facilitate Industry-Academia Collaboration.
- Encourage Sustainable Biomanufacturing.
- Support researchers through Extramural funding.
- Nurture Human Resource in the Biotechnology sector.
Cabinet Decision: 18th September, 2024
