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Bio-RIDE is part of Government of India’s mission to harness potential of bio-innovation to tackle national and global challenges in sectors such as healthcare, agriculture, environmental sustainability etc.
About Bio-RIDE Scheme
- Nodal Department: Department of Biotechnology, Ministry of Science & Technology.
- Objectives:
- Strengthen India’s position as a global leader in biomanufacturing and biotechnology.
- Make India a US$300 billion Bioeconomy by 2030.
- Three Components: It combines two existing schemes with a new third component:
- Biotechnology Research and Development (R&D): Assistance for human resource development, Bioinformatics, Biotech facilities, Centre of Excellence etc.
- Industrial and Entrepreneurship Development (I&ED): Assistance is given to schemes including Public Private Partnership Programmes, Bio-clusters and Biotech parks.
- Biomanufacturing and Biofoundry (B&B):
- This new component aims at furthering India’s goal of creating a Circular Bioeconomy in alignment with Lifestyle for the Environment (LiFE) mission.
- A circular bioeconomy offers a conceptual framework for using renewable natural capital to transform and manage our land, food, health and industrial systems, with the goal of achieving sustainable wellbeing in harmony with nature.
- Funding: Rs.9,197 crore during the 15th Finance Commission (2021-22 to 2025-26).
Significance of Scheme
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