National 04 September 2026
Union Minister Dr. Jitendra Singh Launches 'Bio-Nivesh' Platform for Biotech Startups
Why in the News?
Union Minister of State (IC) for Science & Technology, Dr. Jitendra Singh, chaired a joint roundtable with startups and investors to launch 'Bio-Nivesh', a strategic platform to boost private investment in biotechnology innovations.
Key Features / Major Points:
Purpose of Bio-Nivesh: Acts as a vital bridge between biotech innovators, academia, and the investment community to accelerate the commercialization and scaling of lab-proven technologies.
"Five Big Companies in Five Years": The Minister urged the biotech ecosystem to focus on creating 5 anchor companies over 5 years to build a robust umbrella framework for smaller startups.
₹1 Lakh Crore RDI Fund: BIRAC has been designated as a second-tier fund manager under the RDI Fund to provide long-term, patient capital for strategic biotech and deep-tech projects.
Inaugural Cohort: The first edition brought together 20 high-potential biotech/deep-tech startups and approximately 50 investors.
Static GK Facts:
BIRAC (Biotechnology Industry Research Assistance Council): Established: 2012 | Type: Section 8 Non-profit Public Sector Enterprise under DBT.
DBT (Department of Biotechnology): Established: 1986 | Parent Ministry: Ministry of Science and Technology.
India's Bioeconomy Target: India aims to achieve a $300 billion bioeconomy by the year 2030.
One-Liner Quiz (All Competitive Exams):
Q: Which platform was launched by Dr. Jitendra Singh to connect biotechnology startups with investors?
A: Bio-Nivesh
Q: Which organization was named as the second-tier fund manager under the ₹1 Lakh Crore RDI Fund for the biotech sector?
A: BIRAC
Q: Under which Union Ministry does the Department of Biotechnology (DBT) function?
A: Ministry of Science & Technology