The Government of India has been actively implementing a range of schemes aimed at fostering the growth of startups across various sectors, with a particular focus on the pharmaceutical industry. Among these, the Startup India Initiative, launched on January 16, 2016, stands out as a cornerstone in promoting innovation and attracting investments. This initiative encompasses three flagship programs: the Fund of Funds for Startups (FFS), the Startup India Seed Fund Scheme (SISFS), and the Credit Guarantee Scheme for Startups (CGSS).

The Department of Pharmaceuticals has also launched the Scheme for Promotion of Research and Innovation in Pharma-MedTech sector (PRIP), which includes a dedicated component (BIII) for startups. Notably, 50 out of 125 research projects in six identified priority areas are allocated for startups under this scheme.

The Biotechnology Industry Research Assistance Council (BIRAC), under the Department of Biotechnology, provides substantial funding support to budding biotech entrepreneurs. Programs like the Biotechnology Ignition Grant (BIG), Sustainable Entrepreneurship and Enterprise Development (SEED), and Launching Entrepreneurial Driven Affordable Products (LEAP) offer grants ranging from INR 30 Lakhs to INR 100 Lakhs per startup, supporting them in various stages from ideation to commercialization. BIRAC also supports innovation through the i4 and PACE programs.

As of June 30, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized a total of 1,40,803 startups, with 2,127 of them belonging to the pharmaceutical sector. In the past three years, 1,397 new pharmaceutical startups have been established, showcasing a significant uptick in industry engagement and innovation.

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Specifically, in Uttar Pradesh, 214 new industries have been established in the pharma sector over the last three years, including 176 units in medical devices and 38 units in drugs and formulations.

These initiatives reflect the Government’s unwavering commitment to nurturing a vibrant startup ecosystem in India, particularly in the crucial pharmaceutical and biotechnology sectors. The information was provided by the Union Minister of Chemicals and Fertilizers, Shri Jagat Prakash Nadda, during a session in the Rajya Sabha.

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