Govt seeks proposals for pharma, medtech projects under PRIP scheme
The Government of India recently invited applications for research and innovation projects under its Promotion of Research and Innovation in Pharma-MedTech Sector scheme. This initiative aims to transform the sector into a globally competitive and innovation-driven industry. With a total approved budget of Rs 5,000 crore, the scheme is expected to support about 300 projects. These projects will involve a combined R&D investment of approximately Rs 11,000 crore in areas such as new medicines, complex generics, biosimilars, and novel medical devices.
Scheme Objectives and Scope
The scheme seeks to promote innovation in pharmaceuticals and medical technology. It focuses on creating a robust innovation pipeline. The goal is to enhance India’s capacity to develop advanced healthcare solutions. This includes medicines for rare diseases, antimicrobial resistance, vaccines, and devices addressing tropical and pandemic-related diseases.
Financial Assistance and Project Categories
Projects under the scheme are divided into early-stage and later-stage categories. Early-stage projects can cost up to Rs 9 crore. MSMEs and startups can receive up to Rs 5 crore in funding. For costs up to Rs 1 crore, full financial assistance is provided. Beyond that, 50 percent of additional costs are supported, capped at Rs 5 crore. Later-stage projects can cost up to Rs 285 crore. Assistance for these projects is up to Rs 100 crore, covering 35 to 50 percent of project costs depending on the priority area.
Strategic Priority Innovation Areas
The scheme identifies Strategic Priority Innovation (SPI) areas. These include rare diseases, antimicrobial resistance, vaccine-preventable diseases, tropical vector-borne diseases, and pathogens causing outbreaks or pandemics. Projects in these areas may receive higher financial support, up to 50 percent of costs, acknowledging their critical importance.
Collaboration and Stakeholder Engagement
The amended scheme encourages partnerships between industry, MSMEs, startups, and academic or government research institutions of national repute. This collaboration aims to leverage expertise and infrastructure to accelerate innovation. Special incentives are provided to encourage such alliances, enhancing the overall impact of the scheme.
Impact and Future Prospects
By supporting around 300 projects, the scheme aims to boost India’s global competitiveness in Pharma-MedTech. The expected R&D investment of Rs 11,000 crore reflects push towards innovation-led growth. The scheme aligns with national priorities to improve healthcare outcomes and strengthen the pharmaceutical ecosystem.
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