NEW DELHI– The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Thermo Fisher Scientific to accelerate innovation in India’s biotechnology sector and build a strong pipeline of high-growth startups, the Ministry of Commerce and Industry announced Wednesday.
The collaboration aims to support more than 500 biotech startups over the next three years through strategic advisory, access to technology, mentorship, and investor connections.
As part of the MoU, Thermo Fisher Scientific, under Startup India and DPIIT’s Bharat Startup Grand Challenge (BSGC), will launch the BioVerse Challenge, a nationwide platform to identify and nurture India’s most promising biotech entrepreneurs. The initiative will also include the BioVerse Mentors Circle, designed to provide skill development and technical training across leading bio-incubators.
The BioVerse Challenge will select and support 100 high-potential biotech startups with intensive strategic mentorship, subsidized access to R&D facilities, and direct investor linkages. Meanwhile, the BioVerse Mentors Circle will extend training and guidance to an additional 400 startups, broadening access to advanced biotech techniques and entrepreneurial expertise. A BioVerse Alumni Network will ensure long-term mentorship, coaching, and funding opportunities.
“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 honored to formalize our collaboration with DPIIT through this MoU and to partner on the BioVerse Challenge,” added Srinath Venkatesh, Managing Director, India and South Asia, Thermo Fisher Scientific. “The BioVerse Challenge reflects our commitment to working closely with early-stage startups and bio-incubators across India. Through our upcoming facilities in Genome Valley, Hyderabad, we will provide founders with access to technologies and guidance to help them move from prototype to product faster, enabling them to compete globally.”
The Ministry noted that the initiative will further catalyze India’s position as a global hub for biotechnology innovation. (Source: IANS)
