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The Union Cabinet has approved the “Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme” to support cutting-edge research and development in biotechnology.

About Bio-RIDE Scheme

	Details
Objective	To support cutting-edge research, bio-entrepreneurship, and bio-manufacturing in biotechnology.
Total Outlay	₹9,197 crore for the 15th Finance Commission period (2021-22 to 2025-26).
Components	Merges Biotechnology Research and Development (R&D) and Industrial & Entrepreneurship Development (I&ED). Introduces Bio-manufacturing and Bio-foundry as new components.
Key Aims	Fostering Innovation: Promote bio-entrepreneurship and strengthen India’s position in biotechnology. Bridging Gaps: Accelerate research and product development.
Implementation Focus	Promoting Bio-Entrepreneurship: Seed funding, incubation, mentorship for startups. Advancing Innovation: Grants for research in synthetic biology, bio-pharma, and bio-plastics.
Focus Areas	Extramural Funding for research in agriculture, healthcare, bioenergy, and environmental sustainability. Nurturing human resources in biotechnology.
Industry-Academia Collaboration	Synergies between academic institutions and industry to accelerate commercialization of bio-based products.
Significance	Enhances bio-innovation and supports sustainable development. Contributes to achieving green goals and global leadership in biotechnology.

PYQ:

[2019] Atal Innovation Mission is set up under the

(a) Department of Science and Technology

(b) Ministry of Labour and Employment

(d) Ministry of Skill Development and Entrepreneurship

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Why in the News?

About Bio-RIDE Scheme

PYQ:

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