India Launches National Biofoundry Network, Targets $300 Billion Bioeconomy by 2030

Union Minister Jitendra Singh on Wednesday launched India’s first National Biofoundry Network through the BioE3 Challenge for Youth, aimed at driving innovation in health, agriculture, environment, and industry. The initiative marks one year of the BioE3 (Biotechnology for Economy, Environment and Employment) Policy.

India’s bioeconomy has grown from $10 billion in 2014 to $165.7 billion in 2024, with a target of $300 billion by 2030. Singh said biotechnology is emerging as a major force for the country’s economy, jobs, and sustainability.

The BioE3 Challenge, open to students, researchers, startups, and innovators, will launch monthly contests starting October 2025. Winners will receive cash prizes, mentoring, and access to incubation facilities, while 100 selected projects may secure funding of up to Rs 25 lakh through BIRAC.

The programme aims to empower grassroots innovation and strengthen India’s path to a self-reliant, sustainable bioeconomy.