New Delhi, February 13 Union Minister of Science and Technology Jitendra Singh launched the Biotechnology Industry Research Assistance Council-Research, Development and Innovation (BIRAC-RDI) Fund on Friday. The fund, which will allocate ₹2,000 crore over a period of up to five years, aims to boost innovation in the biotechnology sector.
"The fund aims to bridge the gap between laboratory research and industrial-scale manufacturing by supporting technologies from TRL-4 to TRL-9 through a mix of equity, convertible instruments, and long-term debt. Eligible startups, SMEs, and industry partners can submit proposals through the official portal at https://biracrdif.org. The deadline for Phase 1 submissions is March 31, 2026," a senior official said.
The government appointed BRIAC, a public entity that supports emerging biotech companies in India, as the second-level fund manager for the fund. This is part of the RDI initiative, which seeks to strengthen the country's innovation ecosystem through structured, long-term financing.
Speaking at the launch event, Singh said that the fund "sends a clear message that India is prepared to lead in biotechnology, combining scientific depth, entrepreneurial energy, and policy backing to shape the next phase of global industrial transformation."
The minister stated that the coming industrial revolution would be powered by biotech innovation, advanced manufacturing, and new-age entrepreneurship. He added that the current initiative strengthens India's capacity not only to generate ideas but also to industrialize them.
According to Singh, India is already among the global players in the biotechnology sector. He said that the country's bioeconomy, which stood at about USD 8 billion in 2014, had expanded rapidly in the past 10 years.
The minister also said that the number of biotech startups in India had increased from 50 in 2014 to more than 11,000 in 2026.
Singh added that India had entered areas such as space biotechnology and was preparing for future domains, such as space medicine. He said such efforts position India to contribute knowledge and applications of global relevance, enhancing both scientific stature and geopolitical standing.