Union Minister Jitendra Singh on Tuesday announced that India has witnessed a significant surge in biotech start-up, growing from just 50 in 2014 to approximately 11,000 in 2025. During a press briefing, he attributed the increase to “policy backing and institutional partnerships”.
However, the minister also called for the need of early industry partnerships and financial support to boost biotech ventures in India.
According to him, bioeconomy will drive the future industrial revolution and India would lead the charge in the sector. And for this, the minister asserted that the central government was committed towards building a $300 billion bioeconomy by 2030.
“Bioproducts are not limited to laboratories anymore. They are about livelihoods – from biodegradable packaging to eco-friendly personal care, from rural employment to green jobs,” Singh said at an event organised to celebrate ‘World Bioproduct Day’.
Govt’s Push for Biotech Start-Ups
The Centre has undertaken various measures to strengthen India’s biotech sector. The government approved the Vigyan Dhara scheme in 2024, aimed at promoting scientific research, innovation, and technological development.
In addition, the BioE3 (Biotechnology for Economy, Environment, and Employment) policy was also approved on August 24, 2024. It aims to establish India as a global leader in the bioeconomy, with a focus on various sectors like bio-based chemicals, precision biotherapeutics, smart proteins, and climate-resilient agriculture.
The government agency called BIRAC (Biotechnology Industry Research Assistance Council) also extends grants of up to ₹50 lakh to early-stage biotech start-ups to support idea validation, prototype creation, and proof-of-concept development.
These initiatives have helped energise the domestic biotech ecosystem and attracted growing investor interest. Reflecting this momentum, Kotak Alternate Asset Managers marked the first close of its ₹250 crore life sciences fund in January.
There are some more examples to prove the momentum in this space. Paramesu Biotech has also filed preliminary papers with capital markets regulator Sebi to raise ₹600 crore through an Initial Public Offering (IPO) last year. The proposed IPO is a combination of a fresh issue of shares worth ₹520 crore and an Offer-For-Sale (OFS) of shares to the tune of ₹80 crore by promoter Unimark Business Solutions Private Ltd.
Pune-based biotech company Zerocircle in January 2025 raised ₹20 crore ($2.3 million) in a new round led by Zerodha cofounder Nithin Kamath’s start-up incubator Rainmatter to scale manufacturing and expand the team.
