New Delhi — May 27, 2026 — The Union Government has announced the first national call for the BIRAC–RDI Fund, a ₹2,000 crore financing initiative under India’s ₹1 lakh crore Research, Development and Innovation (RDI) framework. The fund aims to scale high‑impact biotechnology innovations and bridge the gap between laboratory research and industrial application.
Union Minister Jitendra Singh unveiled the fund at a national event attended by senior officials from NITI Aayog, the Department of Biotechnology, and the Anusandhan National Research Foundation, alongside industry leaders and venture capital representatives. Singh said the move marks a decisive shift in India’s science‑led growth strategy, positioning the country as an early mover in emerging technologies.
India’s biotechnology sector has expanded rapidly — from around 50 startups in 2014 to over 11,000 today — with the bioeconomy growing from $8 billion in 2014 to $165.7 billion in 2024. The new fund will support technologies from TRL‑4 to TRL‑9 through equity, convertible instruments, and long‑term debt, enabling startups and SMEs to scale innovations in biopharmaceuticals, bio‑industrial manufacturing, bioenergy, biocomputation, and the blue economy.
Rajesh S. Gokhale, Secretary of Biotechnology, said the RDI Fund is designed to back long‑gestation, high‑risk research requiring patient capital and advanced infrastructure. Jitendra Kumar, Managing Director of BIRAC, added that ₹2,000 crore will be deployed over five years, with potential expansion, leveraging a nationwide network of over 100 bio‑incubation centres and 15 lakh startup entrepreneurs.
Applications for the first phase are now open, with submissions closing on March 31, 2026. The initiative underscores India’s ambition to lead in biotechnology by combining scientific capability, entrepreneurial momentum, and policy support to drive the next wave of industrial transformation
