The Department for Promotion of Industry and Internal Trade (DPIIT), under India’s Ministry of Commerce & Industry, has signed a landmark Memorandum of Understanding (MoU) with Thermo Fisher Scientific (TFS), marking a major step to strengthen India’s biotechnology startup ecosystem. The partnership is designed to support over 500 high-growth biotech startups in India over the next three years, providing them with strategic guidance, mentorship, technology access, and connections to investors.

Under the Startup India initiative and the Bharat Startup Grand Challenge (BSGC), Thermo Fisher Scientific will launch two key programs: the BioVerse Challenge and the BioVerse Mentors Circle. The BioVerse Challenge will identify 100 high-potential startups and provide them with intensive mentorship, subsidized R&D access, and investor support. Meanwhile, the BioVerse Mentors Circle will engage with an additional 400 startups, offering advanced biotech techniques and entrepreneurial guidance to expand their capabilities and market readiness.

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Mr. Srinath Venkatesh, Managing Director, India & South Asia, Thermo Fisher Scientific, highlighted that the collaboration would significantly accelerate the journey of startups from prototype to product, with access to state-of-the-art facilities at Genome Valley, Hyderabad. Thermo Fisher’s expertise in life sciences research, diagnostics, and biotechnology, combined with Startup India’s robust ecosystem, is expected to catalyse India’s emergence as a global hub for biotech innovation.

The MoU will also foster skill development among entrepreneurs, strengthen incubation and research networks, and enhance India’s competitiveness in biotechnology on the international stage. Startups participating in these programs will benefit from hands-on mentorship, investor introductions, access to cutting-edge technology, and strategic advisory services, giving them the tools to thrive in both domestic and global markets.

Through this initiative, India aims to support high-growth biotech startups that can deliver innovative solutions in healthcare, agriculture, diagnostics, and pharmaceuticals. By providing structured guidance, subsidized R&D facilities, and mentorship from global biotech experts, the MoU seeks to create a thriving ecosystem where startups can rapidly scale innovations, secure investments, and contribute to India’s global biotech leadership.

The DPIIT-Thermo Fisher partnership represents a strategic investment in India’s future biotech capabilities, combining government support, global expertise, and entrepreneurial drive to create sustainable growth, job opportunities, and technological advancement across the sector. This move aligns with India’s vision to position itself as a key player in biotechnology innovation worldwide, ensuring startups have access to the necessary resources and expertise to become globally competitive.

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