DPIIT & Thermo Fisher Launch BioVerse to Boost India's Biotech Startups
The Department for Promotion of Industry and Internal Trade (DPIIT) and Thermo Fisher Scientific have joined forces to boost India's biotechnology sector. The partnership, signed in October 2021, aligns with the government's Startup India initiative and aims to foster innovation, job creation, and export-led growth.
The collaboration will see the launch of the BioVerse Challenge, a nationwide competition to identify and scale India's most promising biotech startups. 100 high-potential startups will receive intensive mentorship, subsidized R&D access, and investor readiness support through this initiative.
The partnership also introduces the BioVerse Alumni Network, providing long-term coaching, mentorship, and funding pathways for startups to sustain growth. Additionally, 400 startups will gain advanced skill-building, technical training, and access to India's leading bio-incubators through the BioVerse Mentors Circle.
Genome Valley in Hyderabad will serve as a hub for these activities, reinforcing the region's role as a strategic center for biotech innovation. The partnership aims to provide cutting-edge technologies, mentorship, advisory support, and investor connections to accelerate the growth of biotech startups in India.
With this strategic MoU, DPIIT and Thermo Fisher Scientific aim to empower over 500 biotech startups in India over the next three years. The partnership positions India as a global hub for biotechnology innovation, creating new opportunities for early-stage entrepreneurs and catalyzing India's rise as a global biotechnology powerhouse.
