BIO-RIDE SCHEME

Source: pib

Disclaimer: Copyright infringement not intended.

Context

• The Union Cabinet has approved the continuation of two umbrella schemes under the Department of Biotechnology.
• These have been merged into a single scheme titled Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE), with a newly added component focusing on Biomanufacturingand Biofoundry.

Definitions

• Biotechnology: The application of biological systems, organisms, or derivatives to develop or manufacture products or processes that are beneficial to society.
• Bioeconomy: An economy where biotechnology, biomanufacturing, and bio-based products drive sustainable economic growth.
• Biomanufacturing: The use of biological materials and processes to produce goods, particularly in industries like healthcare, agriculture, and energy.
• Biofoundry: A facility or platform where biomanufacturing processes are streamlined, automated, and optimized for the production of bio-based products.

Read about circular economy: https://www.iasgyan.in/daily-current-affairs/moving-away-from-take-make-dispose-model

Read about Bio3 policy: https://www.iasgyan.in/daily-current-affairs/bioe3

Read about status of R&D expenditure in India: https://www.iasgyan.in/daily-current-affairs/status-of-rd-expenditure-in-india

About the scheme

• The Bio-RIDE scheme aligns with the DBT's vision of utilizing biotechnology as a precision tool for national development.
• It is set to contribute to India's target of becoming a US$300 billion bioeconomy by 2030.
• It will play a crucial role in realizing the vision of a ‘Viksit Bharat 2047’.

Read about India’s bioeconomy: https://www.iasgyan.in/daily-current-affairs/indias-bioeconomy#:~:text=Findings%20of%20India's%20Bioeconomy%20Report,300%20billion%20dollars%20by%202030.

Components

• Biotechnology Research and Development (R&D):: Focuses on fostering cutting-edge research and innovations in key areas such as healthcare, agriculture, bioenergy, and environmental sustainability.
• Industrial & Entrepreneurship Development (I&ED): Aims to promote industrial growth and support biotechnology-based startups by providing incubation, seed funding, and mentorship to bio-entrepreneurs.
• Biomanufacturing and Biofoundry: A newly introduced component that emphasizes sustainable and scalable manufacturing processes aligned with India’s environmental and green goals, contributing to the circular bioeconomy.
• This aligns with the Lifestyle for the Environment (LiFE)initiative, launched by the Prime Minister to mitigate global climate change through eco-friendly practices.

Read about LiFE: https://www.iasgyan.in/daily-current-affairs/mission-life-2

Outlay and Duration

The scheme will be implemented with an outlay of  9197 croreduring the 15th Finance Commission period from 2021-22 to 2025-26.

Objectives

• Promotion of Bio-Entrepreneurship: The scheme will create an enabling environment for startups by offering seed funding, incubation support, and mentorship to entrepreneurs in the biotechnology sector.
• Advancement of Innovation: Bio-RIDE will provide grants and incentives for innovative research in areas like synthetic biology, biopharmaceuticals, bioenergy, and bioplastics, driving scientific advancements.
• Facilitation of Industry-Academia Collaboration: It will encourage partnerships between academic institutions, research organizations, and industries to accelerate the commercialization of bio-based technologies.
• Encouragement of Sustainable Biomanufacturing: A strong emphasis will be placed on sustainable biomanufacturing practices.
• Support for Researchers through Extramural Funding: Bio-RIDE will provide financial support to research institutions, universities, and individual researchers.
• Human Resource Development in Biotechnology: The scheme aims to nurture students, young researchers, and scientists, building their capacity and skills to keep up with technological advancements in biotechnology.

Sources:

pib

PRACTICE QUESTION  Q:The Bio-RIDE scheme aims to bridge the gap between academic research and industrial applications in biotechnology while promoting sustainable biomanufacturing. Critically analyze how this scheme can contribute to India’s bioeconomy and environmental goals. (250 Words)