DPIIT Signs MoU with Thermo Fisher to Boost India’s Biotech Innovation

Department for Promotion of Industry and Internal Trade (DPIIT) today signed a Memorandum of Understanding with Thermo Fisher Scientific to accelerate innovation in India’s biotechnology sector and nurture a strong pipeline of high-growth startups. The Ministry of Commerce and Industry informed that the partnership aims to support over 500 biotech startups in the next three years through strategic advisory, technology access, mentorship, and investor connect. Speaking on the occasion, Joint Secretary of DPIIT Sanjiv, said that the collaboration between Startup India, DPIIT and Thermo Fisher Scientific marks a significant step towards strengthening the country’s biotechnology ecosystem. Mr Sanjiv also said that the department aims to create new opportunities for early-stage biotech entrepreneurs to scale their solutions and contribute to the nation’s bioeconomy.