PRIP (Promotion of Research and Innovation in Pharma MedTech Sector) Scheme

PRIP (Promotion of Research and Innovation in Pharma MedTech Sector) Scheme:

The government recently invited applications for research and innovation projects under its Promotion of Research and Innovation in Pharma-MedTech Sector scheme to make it a globally competitive and innovation-driven sector.

• The PRIP scheme was launched by the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, to transform India into a global powerhouse for R&D in the Pharma MedTech sector.
• The scheme was notified in 2023 with a total financial outlay of ₹5000 crores.
• The aim of the scheme is to promote industry-academia linkage for R&D in priority areas and to inculcate the culture of quality research and nurture our pool of scientists.
• It focuses on two components:
  • Component A: Strengthening research infrastructure through establishment of Centres of Excellence (CoE) in the seven existing National Institutes of Pharmaceutical Education and Research (NIPERs).
    These CoEs would be set up in pre identified areas with a financial outlay of Rs 700 Crores.
  • Component B: Promoting research in the pharmaceutical sector by encouraging research in six priority areas wherein financial assistance will be provided for the industries, MSMEs, SMEs, startups working with government institutes, and for both in- house and academic research.
• The component has a financial outlay of 4250 Crores.
• Bigger companies can seek funding of up to ₹125 crore, while startups can secure up to ₹1 crore over a period of five years, based on their milestones.