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Key Points

The Department for Promotion of Industry and Internal Trade (DPIIT) has joined forces with Thermo Fisher Scientific to revolutionize India's biotech startup ecosystem. Their collaborative BioVerse Challenge will identify and support 100 high-potential biotech startups with intensive mentorship and resources. An additional 400 startups will receive training through the BioVerse Mentors Circle, expanding access to advanced biotech techniques. This strategic partnership aims to position India as a global hub for biotech innovation by nurturing entrepreneurial talent and providing critical support infrastructure.

Key Points: DPIIT Thermo Fisher Launch BioVerse to Boost Biotech Startups

  • DPIIT and Thermo Fisher launch nationwide BioVerse Challenge for biotech innovation
  • Partnership aims to support 500 startups within three years
  • BioVerse will provide strategic mentorship and R&D facility access
  • Initiative targets transforming India's biotech entrepreneurship landscape
2 min read

DPIIT, Thermo Fisher Scientific tie up to boost India's biotech startup ecosystem

DPIIT partners with Thermo Fisher to accelerate innovation, support 500 biotech startups through strategic mentorship and technology access.

"By combining Thermo Fisher's global expertise with Startup India's strong innovation network, we aim to create new opportunities for early-stage biotech entrepreneurs - Sanjiv, Joint Secretary, DPIIT"

New Delhi, Oct 1

Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Thermo Fisher Scientific (TFS) to accelerate innovation in India's biotechnology sector and nurture a strong pipeline of high-growth startups, the Ministry of Commerce and Industry said on Wednesday.

The partnership aims to support over 500 biotech startups in the next three years through strategic advisory, technology access, mentorship, and investor connect.

As part of the MoU, TFS under Startup India, DPIIT's initiative Bharat Startup Grand Challenge (BSGC) will launch the BioVerse Challenge -- a nationwide platform to identify and nurture India's most promising biotech entrepreneurs, and the BioVerse Mentors Circle to provide skill development and technical training across leading bio-incubators.

Under this partnership, the BioVerse Challenge will identify and support 100 high-potential biotech startups with intensive strategic mentorship, subsidised access to R&D facilities, and investor connections.

The BioVerse Mentors Circle will train and guide an additional 400 startups, expanding access to advanced biotech techniques and entrepreneurial know-how.

A BioVerse Alumni Network will provide long-term mentorship, coaching, and funding opportunities to participating startups.

"The collaboration between Startup India, DPIIT, and Thermo Fisher Scientific marks a significant step towards strengthening India's biotechnology ecosystem. By combining Thermo Fisher's global expertise with Startup India's strong innovation network, we aim to create new opportunities for early-stage biotech entrepreneurs to scale their solutions and contribute to India's bioeconomy," said Sanjiv, Joint Secretary, DPIIT.

"We are honoured to formalise our collaboration with DPIIT through this MOU, and to partner on the BioVerse Challenge. The BioVerse Challenge reflects our commitment to working closely with early-stage start-ups and bio-incubators across India. Through our upcoming facilities in Genome Valley, Hyderabad, we will give founders access to technologies and guidance that can help them move from prototype to product faster. It will enable them to compete globally," added Srinath Venkatesh, Managing Director, India and South Asia, Thermo Fisher Scientific.

Together with Startup India, DPIIT, this initiative will catalyse India's position as a global hub for biotech innovation, the Ministry said.

- IANS

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Reader Comments

R
Rahul R
Great initiative but I hope this reaches tier-2 and tier-3 cities too. Most biotech funding currently goes to startups in Bangalore and Hyderabad. Smaller cities have brilliant minds that need support.
A
Anjali F
👍 Finally some concrete action! India has so much potential in biotech - from affordable medicines to agricultural innovations. Hope this partnership delivers real results, not just paperwork.
M
Michael C
Thermo Fisher is a global leader in life sciences. Their expertise combined with Indian innovation could create some amazing breakthroughs. Looking forward to seeing what comes out of this collaboration!
S
Siddharth J
The alumni network is a smart move. Many startups fail because they lose momentum after initial support. Continuous mentorship and funding access can make all the difference between success and failure.
K
Kavya N
Hope this initiative focuses on solving real Indian problems - affordable healthcare solutions, agricultural biotechnology for our farmers, and environmental solutions. We need homegrown innovations for local challenges.

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