Bio-RIDE Scheme UPSC: A Comprehensive Overview
Bio-RIDE is a major organizational effort intended for enhancing the biotechnology industry in India based on Research, Innovation, and Entrepreneurship Development. That is why it is essential for creating an environment for innovation, for collaboration between academia and industries, for bio-manufacturing in India.
Bio-RIDE Scheme Synonym
The Bio-RIDE Scheme combines two existing schemes under the biotechnology sector:
- Biotechnology Research and Development (R&D)
- Industrial and Entrepreneurship Development (I&ED)
It also introduces a new component known as Bio-Manufacturing and Bio-Foundry, making it a holistic program to boost the biotechnology industry.
Bio-RIDE Scheme Definition
The Bio-RIDE scheme is a centrally sponsored scheme launched by the Government of India to encourage research and innovation in biotechnology and provide innovation credit for entrepreneurs to make India the globe’s best biomanufacturing destination.
What is the Bio-RIDE Scheme?
The Bio-RIDE Scheme is a flagship program by the Government of India to strengthen the biotechnology sector through:
- Funding for Startups
- Grants for Research and Development
- Support for Industry-Academia Collaboration
- Advancement of Bio-manufacturing Capabilities
Bio-RIDE Scheme Full Form
Bio-RIDE stands for Biotechnology Research Innovation and Entrepreneurship Development.
How to Apply for Bio-RIDE Scheme?
Interested startups, researchers, and institutions can apply for the Bio-RIDE scheme through the following steps:
- Visit the official website of the Department of Biotechnology (DBT) or Biotechnology Industry Research Assistance Council (BIRAC).
- Register and create an account.
- Submit the required proposal detailing the research or entrepreneurial project.
- Attach necessary documents, including project feasibility, financial projections, and team details.
- Await approval and grant allocation.
What is the Bio-Foundry Scheme?
The Bio-Foundry Scheme, a component of Bio-RIDE, focuses on:
- Establishing advanced bio-manufacturing facilities.
- Utilizing cutting-edge technologies like synthetic biology, bioinformatics, and genetic engineering.
- Supporting startups in scaling up bio-based product development and commercialization.
Bio-RIDE Scheme Launch Date
Bio-RIDE Scheme Under Which Ministry?
Bio-RIDE Scheme is under the Ministry of Science and Technology and more specifically it comes under the Department of Biotechnology (DBT).
Bio-RIDE Scheme Budget
The centre has set a fund of ₹9,197 crore for the Bio-RIDE Scheme for the financial year 2021-2026 under the 15th Finance Commission.
Significance of the Bio-RIDE Scheme
- Promotes Bio-Entrepreneurship: Offers capital, space and advice for biotechnology businesses that are at an early stage of development.
- Advances Innovation: Fosters exploratory projects in fields that include synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.
- Facilitates Industry-Academia Collaboration: Helps in eliminating the time lag between the research centres and industries to bring about better commercialization.
- Enhances Bio-Manufacturing: Develops new modern plant for bio-manufacturing to enhance production capacity.
Bio-RIDE Scheme Meaning
Concisely, the Bio-RIDE Scheme is a planned move which would encourage biotechnology research for innovation and start-ups so that India would continue to dominate the global market of biotech industry.
Bio-RIDE Scheme in Hindi
बायो-राइड योजना (Bio-RIDE Scheme) का उद्देश्य भारत में जैव प्रौद्योगिकी क्षेत्र में अनुसंधान, नवाचार और उद्यमिता को बढ़ावा देना है। यह योजना स्टार्टअप्स को वित्तीय सहायता, अनुसंधान अनुदान और उद्योग-अकादमिक सहयोग के माध्यम से जैव-निर्माण क्षमताओं को सुदृढ़ करती है।
Bio-RIDE Scheme Color
To the author’s knowledge, there is no official color for the Bio-RIDE Scheme yet, but government programs commonly implemented systematic colors of blue and green which represent innovation, sustainability, and technology.
Conclusion
The Bio-RIDE Scheme is distinctive and planned to transform India into a prominent biotechnology country. It helps in creating a suitable environment for innovation for both startup and incumbent biotech firms, promoting business development, and supporting an environment for stronger biotech industry growth that supports India’s economic and global growth.