Thermo Fisher Scientific, in collaboration with Startup India and the Department for Promotion of Industry and Internal Trade (DPIIT), has launched the BioVerse Challenge, a nationwide programme to accelerate 500 high-potential biotech start-ups across India over the next three years.
The programme aligns with the Government of India’s goal of building a $300 billion bioeconomy by 2030 and strengthening the country’s role as a global technology hub. As part of the initiative, Thermo Fisher Scientific signed a Memorandum of Understanding with DPIIT to support scientific innovation and commercialisation.
“We are privileged to support India’s aspirations to build a strong bioeconomy by 2030,” said Tony Acciarito, President, Asia Pacific & Middle East, Africa, Thermo Fisher Scientific. “Through the BioVerse Challenge in collaboration with DPIIT, we continue to empower start-ups with cutting-edge technologies, expertise, and scientific networks. Together, we are inspiring breakthroughs, strengthening local capabilities, and creating lasting impact for communities across the country.”
India is home to over 10,075 biotech start-ups. These ventures contributed to accelerating the bioeconomy to $80 billion in 2023 and are projected to push this value to $150 billion by the end of 2025.
“Through our partnership with Thermo Fisher Scientific, we are fostering deeper collaboration between startups and industry leaders in the biotechnology space,” said Shri Sumeet Kumar Jarangal, Director, DPIIT. “Thermo Fisher’s global expertise, combined with Startup India’s growing network of recognized biotech startups, will accelerate innovation pipelines, and strengthen our commitment to enable product-focused startups to solve India’s healthcare and biotechnology challenges.”
The BioVerse Challenge will support early-stage start-ups in biopharma, med-tech, agri-tech, food tech, and allied bio-based sectors. Over the next three years, 100 selected start-ups will gain access to on-site training at Thermo Fisher’s upcoming Customer Experience Center (CEC) and Bioprocess Design Center (BDC) in Genome Valley, Hyderabad. These centres are scheduled to open by the end of 2025. An additional 400 start-ups will be supported through off-site mentorship programmes, conducted at various research institutes and incubators across India.
“The BioVerse Challenge reflects our commitment to working closely with early-stage start-ups and bio-incubators across India,” said Srinath Venkatesh, Managing Director, India & South Asia, Thermo Fisher Scientific. “Through our upcoming facilities in Genome Valley, 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. In addition, we will support the start-ups through our existing Centers for Innovation at Bengaluru, Hyderabad, Guwahati and Bhubaneswar. The centers have been set up in partnership with leading bioincubators in DBT-supported biotech parks.”
The implementation of the BioVerse Challenge will be guided by an Advisory Board comprising leaders from business, policy, research, academia, and the investment community. The board will evaluate applications, offer continuous support, and establish a nationwide mentor network to support the selected start-ups.