Context:
Recently, the Union Cabinet, chaired by the Prime Minister of India approved continuation of the two umbrella schemes of Department of Biotechnology (DBT), merged as one scheme-‘Biotechnology Research Innovation and Entrepreneurship Development (Bio- RIDE).
Relevance:
GS II: Government Policies and Interventions
Dimensions of the Article:
- Bio-RIDE Initiative
- Strategic Implementation Focus
Bio-RIDE Initiative:
- The Bio-RIDE scheme is crafted to catalyze innovation, bolster bio-entrepreneurship, and position India as a foremost player in the global biomanufacturing and biotechnology sector.
- The initiative seeks to expedite research, enhance the development of products, and seamlessly integrate academic research into industrial applications.
Components of the Scheme:
- Research and Development: Focus on advancing biotechnology research.
- Industrial and Entrepreneurship Development: Aimed at boosting industrial growth and entrepreneurship within the biotech sector.
- Biomanufacturing and Biofoundry: A novel addition targeting advancements in biomanufacturing.
Mission and Funding:
- Mission Alignment: Aligns with India’s strategy to leverage bio-innovation for addressing key challenges in health, agriculture, environmental sustainability, and energy.
- Financial Layout: An allocation of Rs.9197 crore has been earmarked for the duration of the 15th Finance Commission cycle from 2021-2022 to 2025-2026.
Strategic Implementation Focus:
- Promoting Bio-Entrepreneurship: Fostering a vibrant startup ecosystem through seed funding, incubation support, and mentorship for bio-entrepreneurs.
- Advancing Innovation: Offering grants and incentives for pioneering research in fields like synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
- Enhancing Industry-Academia Collaboration: Strengthening partnerships between academia, research bodies, and the industry to hasten the commercialization of biotechnological innovations.
- Supporting Sustainable Biomanufacturing: Emphasizing environmentally friendly practices in biomanufacturing that align with India’s ecological goals.
- Extramural Research Support: Providing significant funding to bolster scientific research and technological advancements across various biotechnological domains.
- Human Resource Development: Dedicated to enriching the skill set and capabilities of students, young researchers, and scientists in the biotechnology sector.
