New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT), in collaboration with Thermo Fisher Scientific, has launched the BioVerse Challenge, a nationwide program designed to fast- track 500 high-potential biotech start-ups across India over the next three years.
The initiative, unveiled at the 7th Biopharma Conclave under the Bharat Startup Grand Challenge, supports the Government of India’s vision of building a $300 billion bioeconomy by 2030. As part of the launch, Thermo Fisher signed an MoU with DPIIT to strengthen scientific innovation and commercialisation.
“We are privileged to support India’s aspirations to build a strong bioeconomy by 2030. Through the BioVerse Challenge, we aim to empower start-ups with cutting-edge technologies, expertise, and scientific networks,” said, Tony Acciarito, President, Asia Pacific &
Middle East, Africa, Thermo Fisher Scientifi .
India currently hosts more than 10,000 biotech start-ups, which helped accelerate the bioeconomy to $80 billion in 2023, projected to touch $150 billion by end-2025.
Highlighting the government’s push, Shri Sumeet Kumar Jarangal, Director, DPIIT, said, “Through the partnership, we are fostering deeper collaboration between start-ups and industry leaders. This will accelerate
innovation pipelines and strengthen product-focused biotech solutions for India’s challenges.”
The program supports start-ups in biopharma, med-tech, agri-tech, food tech, and allied bio-based sectors. 100 winning start-ups will receive on- site training at Thermo Fisher’s upcoming Customer Experience Center.
The program supports start-ups in biopharma, med-tech, agri-tech, food tech, and allied bio-based sectors. 100 winning start ups will receive on- site training at Thermo Fisher’s upcoming Customer Experience Center (CEC) and Bioprocess Design Center (BDC) in Hyderabad’s Genome Valley, opening by end-2025.
400 additional start-ups will be mentored through workshops at research institutes and incubators nationwide.
Thermo Fisher will also extend support through its centers for innovation in Bengaluru, Hyderabad, Guwahati, and Bhubaneswar, set up with DBT- supported biotech parks.
Srinath Venkatesh, Managing Director, India & South Asia, Thermo Fisher Scientific, added: “The BioVerse Challenge will help founders move from prototype to product faster, enabling them to compete
globally.”
A distinguished Advisory Board of leaders from business, policy, research,academia, and investment will guide the program, evaluate start-up applications, and build a nationwide mentorship network.
https://pharma.economictimes.indiatimes.com/news/pharma-industry/dpiit-thermo-fisher-launch-bioverse-challenge-to-accelerate-500-biotech-start-ups/124301045
