What Projects Can Be Funded Under the PRIP Scheme Worth Rs 11,000 Crore?
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Synopsis
The Indian government has launched a significant initiative inviting proposals for the PRIP scheme, targeting innovations in the Pharma-MedTech sector. With funding options for startups and MSMEs, it's a golden opportunity to drive impactful change in healthcare. Explore the details of this landmark scheme aimed at transforming the industry.
Key Takeaways
- Government launches PRIP scheme for Pharma-MedTech innovation.
- Funding of Rs 11,000 crore available for projects.
- Support for MSMEs and startups in early and later stages.
- Focus on public health significance and strategic innovation.
- Fully digital application process initiated.
New Delhi, Oct 2 (NationPress) The government has issued a call for proposals under the Promotion of Research and Innovation in Pharma-MedTech Sector (PRIP) scheme, aimed at industry and startup initiatives valued at approximately Rs 11,000 crore.
The Department of Pharmaceuticals has opened applications for research and innovation projects as part of its PRIP scheme, a groundbreaking initiative designed to elevate the sector to a globally competitive, innovation-driven landscape.
With an allocated budget of Rs 5,000 crore, the scheme aims to stimulate a Pharma-MedTech innovation pipeline by backing around 300 projects with a total R&D investment nearing Rs 11,000 crore for new medicines, complex generics, biosimilars, and cutting-edge medical devices.
The Department has made amendments to the scheme as previously announced and has released updated guidelines.
For early-stage projects, MSMEs and startups can apply for funding on projects costing up to Rs 9 crore with assistance reaching up to Rs 5 crore.
For more advanced projects, industry, MSMEs, and startups can seek support for projects costing up to Rs 285 crore, with potential assistance up to Rs 100 crore.
Financial assistance for early-stage projects is set at 100% for costs up to Rs 1 crore and 50% for additional costs beyond that, capped at Rs 5 crore. For later-stage projects, the assistance is 35% of the project cost, with a maximum of Rs 100 crore.
To bolster India’s health security in areas deemed of high public health importance but with relatively low market viability, recognized as Strategic Priority Innovation (SPI) areas, the revised scheme indicates that assistance for later-stage projects can be up to 50%, capped at Rs 100 crore.
Identified SPI areas encompass specific rare diseases, antimicrobial resistance, vaccine-preventable diseases, tropical vector-borne diseases, and pathogens causing outbreaks or pandemics.
In addition to financial backing, the amended scheme aims to construct robust institutional frameworks to foster innovation, as stated by the government.
The application portal has been launched on October 1, 2025, facilitating a fully digital application process.
Point of View
It is essential to recognize the government's proactive approach to fostering innovation in the Pharma-MedTech sector. The PRIP scheme not only provides financial support but also aims to establish a robust framework for nurturing groundbreaking ideas. This initiative is a strategic move towards enhancing India's healthcare capabilities and ensuring public health security.
NationPress
02/10/2025
Frequently Asked Questions
What is the PRIP scheme?
The PRIP scheme, or Promotion of Research and Innovation in Pharma-MedTech Sector, is an initiative by the Indian government to support industry and startup projects with funding aimed at fostering innovation.
What is the total funding available under the PRIP scheme?
The total funding available under the PRIP scheme is approximately Rs 11,000 crore, with an approved outlay of Rs 5,000 crore for research and innovation projects.
Who can apply for funding under this scheme?
Both startups and MSMEs in the Pharma-MedTech sector can apply for funding under the PRIP scheme, with specific provisions for early-stage and later-stage projects.
What kind of projects are eligible for funding?
Eligible projects include those focusing on new medicines, complex generics, biosimilars, and innovative medical devices, particularly in areas of high public health significance.
When can applications be submitted?
Applications for the PRIP scheme opened on October 1, 2025, through a dedicated digital portal to facilitate the application process.
