In a significant step toward realizing the Government of India’s vision of building a $300 billion bioeconomy by 2030, 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 program aimed at fast-tracking 500 high-potential biotech startups across India over the next three years.

The launch took place at the 7th Biopharma Conclave under the Bharat Startup Grand Challenge and marks a strategic partnership between DPIIT and Thermo Fisher Scientific. As part of the initiative, both organizations signed a Memorandum of Understanding (MoU) to collaborate on enabling scientific innovation and commercialization within India’s growing biotechnology sector.

"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, we aim to empower startups with access to cutting-edge technologies, global expertise, and robust scientific networks. This initiative reinforces our commitment to strengthening local capabilities, fostering innovation, and driving meaningful impact in communities across the country.”

India currently hosts more than 10,075 biotech startups. These ventures have already contributed to accelerating the bioeconomy to $80 billion in 2023, with expectations to reach $150 billion by the end of 2025. The BioVerse Challenge is designed to build on this momentum, supporting early-stage startups in sectors including biopharma, med-tech, agri-tech, food tech, and allied bio-based industries.

Over the next three years, 100 winning startups will gain access to in-depth, on-site training at Thermo Fisher’s upcoming Customer Experience Center (CEC) and Bioprocess Design Center (BDC), both set to open by the end of 2025 in Hyderabad’s Genome Valley. An additional 400 startups will benefit from off-site mentorship through workshops conducted at leading research institutes and incubators across India.

“The BioVerse Challenge reflects our commitment to working closely with early-stage startups and bioincubators across India,” said Srinath Venkatesh, Managing Director, India & South Asia, Thermo Fisher Scientific. “Through our new facilities in Genome Valley and existing Centers for Innovation in Bengaluru, Hyderabad, Guwahati, and Bhubaneswar, we will support founders with the tools, technologies, and guidance necessary to transition from prototype to market-ready product. This will position Indian biotech startups to compete on a global scale.”

Sumeet Kumar Jarangal, Director at DPIIT, emphasized the importance of industry-startup collaboration, stating, “Through our partnership with Thermo Fisher Scientific, we are fostering deeper engagement between startups and industry leaders in the biotechnology sector. Thermo Fisher’s global expertise, combined with Startup India’s expansive network, will accelerate innovation pipelines and help solve pressing healthcare and biotechnology challenges facing India today.”

The BioVerse Challenge will be overseen by a distinguished Advisory Board comprising leaders from business, policy, academia, research, and the investment community. The board will play a pivotal role in selecting the most promising startups, providing strategic direction, and building a nationwide mentorship network to maximize the program’s impact.

Startups interested in applying can access the application process through the official DPIIT portal.