Govt announces scheme for innovation of environmentally sustainable technology

Consolidated details of funds allocated and funds spent in the innovation of environmentally sustainable technology in the last five years, as well as year-wise, is placed below:-

(Rs in crores)

Department of Biotechnology, Ministry of Science and Technology has scheme for Industrial and Entrepreneurship Development (I&ED), and The Department through its public sector undertaking, Biotechnology Industry Research Assistance Council supports various start-ups under the thematic area “Energy Environment and Secondary Agriculture” for the development of environmentally sustainable technologies through various schemes such as Biotechnology Industry Partnership Programme (BIPP); Small Business Innovation Research Initiative (SBIRI); Social Innovation Programme for Products: Affordable & Relevant to Societal Health (SPARSH); Biotechnology Ignition Grant (BIG); Sustainable Entrepreneurship & Enterprise Development (SEED) Fund; Launching Entrepreneurial Driven Affordable Products (LEAP) Fund and Synthetic Biology. A dedicated incubator – Clean Energy International Incubation Centre (CEIIC) focused on supporting startups working in the area of clean technology has been set up under the BioNEST scheme in collaboration with Tata Trusts under Mission Innovation. Apart from the above, recognized academic institutions and research organizations registered as NGOs are also being supported under the scheme “Biotechnology Research and Development” based on the merit of the research and development proposals.

A total of Rs. 31.21 crores have been allocated for startups and NGOs working for research and development for innovation of environmentally sustainable technology in the last three years.

CT Bureau