DPIIT & Thermo Fisher Scientific Launch BioVerse Challenge To Support 500 Startups

New Delhi, Oct 1 (KNN) The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Thermo Fisher Scientific (TFS) to strengthen India’s biotechnology ecosystem and support the growth of high-potential startups.

The partnership, under DPIIT’s Startup India initiative, aims to nurture over 500 biotech startups in the next three years through strategic mentorship, technology access, investor connect, and skill development. 

As part of the collaboration, TFS and DPIIT will launch the BioVerse Challenge, a nationwide platform to identify and support 100 high-potential biotech entrepreneurs with advisory, subsidised R&D access, and investor linkages.

In addition, the BioVerse Mentors Circle will provide technical training and guidance to around 400 startups across leading bio-incubators, while the BioVerse Alumni Network will extend long-term mentorship, coaching, and funding opportunities to participants.

Speaking on the initiative, Sanjiv, Joint Secretary, DPIIT, said the collaboration combines Thermo Fisher’s global expertise with Startup India’s innovation network to create opportunities for early-stage biotech entrepreneurs and strengthen India’s bioeconomy.

Srinath Venkatesh, Managing Director, India & South Asia, Thermo Fisher Scientific, said the BioVerse Challenge will help startups move from prototype to product faster, aided by access to advanced facilities including TFS’s upcoming Genome Valley centre in Hyderabad.

(KNN Bureau)