DPIIT and Thermo Fisher Join Forces to Boost 500 Indian Biotech Startups

In a landmark move to strengthen India’s biotechnology sector and foster innovation-led growth, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, has signed a Memorandum of Understanding (MoU) with Thermo Fisher Scientific (TFS). The partnership is set to accelerate the country’s biotech innovation ecosystem, supporting over 500 biotech startups in the next three years.

The collaboration, announced under Startup India’s Bharat Startup Grand Challenge (BSGC), will introduce a series of targeted initiatives including the BioVerse Challenge, the BioVerse Mentors Circle, and the BioVerse Alumni Network — all designed to provide startups with access to mentorship, technology, and global investment opportunities.

Building the Future of India’s Bioeconomy

Speaking at the MoU signing, Shri Sanjiv, Joint Secretary at DPIIT, emphasised the significance of the collaboration:

“The collaboration between Startup India, DPIIT and Thermo Fisher Scientific marks a significant step towards strengthening India’s biotechnology ecosystem. By combining Thermo Fisher’s global expertise with Startup India’s strong innovation network, we aim to create new opportunities for early-stage biotech entrepreneurs to scale their solutions and contribute to India’s bioeconomy.”

The initiative is aligned with India’s National Biotechnology Development Strategy and broader ambitions to position the country as a global biotech hub, capitalising on rising demand for healthcare, life sciences, and bio-based solutions.

Key Initiatives Under the MoU

Under this partnership, three major pillars will drive growth for biotech entrepreneurs:

1. BioVerse Challenge

   • A national competition to identify and nurture 100 high-potential biotech startups.

   • Startups will receive intensive mentorship, subsidised access to R&D facilities, and investor connections.

   • Winners will also gain visibility on global platforms, opening pathways to international collaboration.

2. BioVerse Mentors Circle

   • A mentorship and skill development initiative targeting 400 additional startups.

   • Provides access to advanced biotech training across leading bio-incubators in India.

   • Equips entrepreneurs with technical know-how and market readiness.

3. BioVerse Alumni Network

   • Designed to provide long-term mentorship and funding opportunities.

   • Builds a community of innovators who can support one another with expertise, networks, and scaling strategies.

Thermo Fisher’s Role in Expanding Biotech Access

Highlighting the company’s commitment, Shri Srinath Venkatesh, Managing Director, India & South Asia at Thermo Fisher Scientific, said:

“We are honoured to formalize our collaboration with DPIIT through this MoU, and to partner on the BioVerse Challenge. Through our upcoming facilities in Genome Valley, Hyderabad, we will give founders access to technologies and guidance that can help them move from prototype to product faster. It will enable them to compete globally.”

Thermo Fisher’s facilities in Hyderabad’s Genome Valley — regarded as India’s premier life sciences hub — will provide biotech startups with access to world-class laboratories, advanced research tools, and global expertise in diagnostics, life sciences research, and biotechnology innovation.

A Global Step for India’s Startups

The biotechnology sector in India has been growing rapidly, currently contributing over $80 billion to the national bioeconomy. With this collaboration, DPIIT and Thermo Fisher aim to scale India’s startup capacity in areas such as drug discovery, diagnostics, agricultural biotech, industrial biotech, and bioinformatics.

By nurturing homegrown startups with mentorship, funding pathways, and cutting-edge R&D facilities, the initiative seeks to position India as a global leader in biotech solutions, while creating thousands of high-skilled jobs and boosting exports.

Looking Ahead

The BioVerse initiative underlines the government’s vision of “Startup India, Standup India”, where biotechnology is not only a growth sector but also a strategic tool for healthcare security, food safety, and sustainable industrial development.

With Thermo Fisher’s expertise and DPIIT’s policy support, the initiative is expected to unlock new discoveries, global partnerships, and significant economic value for India.