New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, has signed a Memorandum of Understanding (MoU) with Thermo Fisher Scientific (TFS) to strengthen India’s biotech startups ecosystem and accelerate innovation in the sector.
The collaboration aims to support more than 500 biotech startups over the next three years. This will be achieved through a structured framework that includes strategic advisory, mentorship, access to cutting-edge technologies, and investor connect opportunities.
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BioVerse Challenge to Identify 100 High-Potential Biotech Startups
As part of this partnership, Thermo Fisher Scientific, in collaboration with Startup India’s Bharat Startup Grand Challenge (BSGC), will launch the BioVerse Challenge.
This initiative will identify 100 high-potential biotech startups and provide them with intensive mentorship, subsidized access to research and development facilities, and investor connections.
BioVerse Mentors Circle to Train 400 Startups Nationwide
Complementing the challenge, the BioVerse Mentors Circle will extend training and guidance to an additional 400 biotech startups. This will enhance access to advanced biotech techniques, entrepreneurial skills, and domain-specific expertise across leading bio-incubators in India.
Long-Term Support Through BioVerse Alumni Network
To ensure continuous growth, a BioVerse Alumni Network will be created. This platform will provide long-term mentorship, coaching, and funding opportunities for participating startups, creating a strong pipeline of biotech entrepreneurs.
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Sanjiv, Joint Secretary, DPIIT, said, “The collaboration between Startup India, DPIIT, and Thermo Fisher Scientific marks a significant step in strengthening India’s biotechnology ecosystem. By leveraging Thermo Fisher’s expertise with Startup India’s network, we aim to create new opportunities for biotech entrepreneurs and scale India’s bioeconomy.”
Srinath Venkatesh, Managing Director, India & South Asia, Thermo Fisher Scientific, added, “We are honoured to partner with DPIIT through this MoU. The BioVerse Challenge reflects our commitment to working closely with startups and bio-incubators across India. With upcoming facilities in Genome Valley, Hyderabad, we will enable entrepreneurs to access global technologies, helping them transition from prototypes to globally competitive products.”
With this initiative, DPIIT and Thermo Fisher Scientific seek to position India as a global hub for biotechnology innovation, fostering sustainable growth and competitiveness in the sector.
