Govt Invites Applications Worth INR 11,000 Cr Under PRIP to Drive Pharma-Medtech Innovation

Backed by an approved outlay of ₹5,000 crore, the scheme is expected to drive a Pharma-Medtech innovation

The Department of Pharmaceuticals, Government of India, has opened applications for research and innovation projects under the Promotion of Research and Innovation in Pharma-MedTech Sector (PRIP) scheme, an initiative aimed at positioning India as a globally competitive, innovation-driven hub.

Backed by an approved outlay of ₹5,000 crore, the scheme is expected to drive a Pharma-Medtech innovation pipeline through support for around 300 projects with a combined R&D investment of approximately ₹11,000 crore in new medicines, complex generics, biosimilars, and novel medical devices.

As per the amended guideline of the PRIP scheme, early-stage projects led by MSMEs and startups with a total cost of up to ₹9 crore can seek support of up to ₹5 crore.

For projects costing up to ₹1 crore, funding will cover 100% of expenses, while those exceeding ₹1 crore and up to ₹9 crore are expected to receive 50% of the incremental cost.

For later-stage projects undertaken by industry players, MSMEs, or startups with costs of up to ₹285 crore, financial assistance of up to ₹100 crore may be provided, covering 35% of the project cost.

According to reports, in areas of Strategic Priority Innovation (SPI), such as rare diseases, antimicrobial resistance, pandemic pathogens, and vaccine-preventable or vector-borne diseases, this support can increase up to 50% with maximum support limited to ₹100 cr.

The amended scheme also introduces targeted incentives for industry, MSMEs, and startups to collaborate with leading academic and government research institutions.

Further, the scheme, beyond financial support, aims to strengthen institutional enablers by setting up industry-focused Centres of Excellence at seven NIPERs as advanced research hubs.

It also establishes the NIPER Academia-Industry Coordination Committee, chaired by the Department of Pharmaceuticals, to foster long-term collaboration between academia and industry.

As per reports, the scheme is designed to create a pan-India digital Pharma-MedTech innovation exchange to connect innovators with investors, mentors, and allied government initiatives such as Patent Mitra and MedTech Mitra, while opening doors to global opportunities.

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