Union govt launches ₹2,000 crore BIRAC RDI Fund to scale biotech innovation

The Union government on Feb 13 opened the first national call under the BIRAC RDI Fund, a ₹2,000 crore financing window designed to scale biotechnology innovations and accelerate their transition from research laboratories to commercial deployment.

Union Minister Jitendra Singh said the fund operates within the broader ₹1 lakh crore Research, Development, and Innovation initiative and reflects a shift toward science-driven economic expansion.

He said the move signaled India’s intent to position itself at the forefront of emerging technologies rather than follow global trends.

The announcement was made in the presence of senior government officials, including representatives from NITI Aayog, the Department of Biotechnology, the Department of Science and Technology, the Anusandhan National Research Foundation, and leaders from industry and venture capital.

Singh highlighted the expansion of India’s biotechnology ecosystem, noting that the number of biotech startups has increased from around 50 in 2014 to more than 11,000.

He said the bioeconomy, valued at about $8 billion in 2014, has grown substantially, strengthening India’s global standing.

He added that biotechnology is expected to anchor the next phase of industrial growth, much as information technology did in previous decades, with innovation, advanced manufacturing, and entrepreneurship driving progress.

The initiative aims to ensure that research outputs translate into scalable industrial applications.

Singh also pointed to emerging areas such as space biotechnology and preparations for space medicine, noting that biotechnology experiments using indigenous kits are being conducted in space for plant and life sciences research.

Department of Biotechnology Secretary Rajesh S. Gokhale said the RDI Fund is structured to back high-risk, long-gestation research that requires patient capital and advanced infrastructure.

He said it complements the BioE3 Policy and will support next-generation products in biopharmaceuticals, bio-industrial manufacturing, bioenergy, the blue economy, and biocomputation.

BIRAC Managing Director Jitendra Kumar said the agency, designated as a second-level fund manager under the RDI framework, will deploy ₹2,000 crore over up to five years, with provision for expansion.

He said BIRAC’s innovation network includes more than 100 bio-incubation centers, over 1 million square feet of incubation space, and engagement with more than 1.5 million startup entrepreneurs.

He said India’s bioeconomy has expanded from $28 billion in 2012 to $165.7 billion in 2024, with projections of $300 billion by 2030 and $1 trillion by 2047.

The BIRAC RDI Fund is part of the national RDI initiative cleared by the Union Cabinet in July 2025 and launched in November 2025 under the Anusandhan National Research Foundation, anchored by the Department of Science and Technology.

It will support technologies from TRL 4 to TRL 9 through equity, convertible instruments, and long-term debt.

Eligible startups, small and medium enterprises, and industry partners can submit proposals through the official portal. Phase 1 applications will close on March 31, 2026.