New Delhi: The government has announced the second call for applications under the Promotion of Research and Innovation in Pharma & MedTech (PRIP) Scheme, opening fresh funding opportunities for startups, MSMEs and companies working on pharmaceutical and medical technology projects.
The ₹5,000 crore scheme, implemented by the Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers, is aimed at strengthening research and development in India’s pharmaceutical and MedTech sectors.
Applications under the second round have been divided into early-stage and later-stage projects.
Under the early-stage track, startups and MSMEs working on products or technologies at Technology Readiness Level (TRL) 1, 2 or 3 can seek support to advance them to higher readiness levels, up to TRL 5. Financial assistance of up to ₹5 crore per project will be available.
Early-stage applications will follow a two-stage process. Applicants will initially submit a concept note, after which shortlisted projects will be invited to submit detailed applications. Eligible startups and MSMEs can apply directly, while ecosystem enablers can also submit concept notes on behalf of projects within their networks.
Under the later-stage track, industry players, startups and MSMEs with technologies at TRL 4, 5 or 6 can apply for assistance to advance their projects to higher TRLs.
Financial support of up to ₹100 crore per later-stage project will be available. However, government assistance will be limited to a maximum of 35 per cent of the approved project cost, with the remaining amount to be co-funded by the applicant.
The submission window on the PRIP portal is expected to open by mid-September. Applicants who submitted projects during the first PRIP round have been asked not to resubmit the same projects.
The scheme covers priority areas including new medicines, complex generics and biosimilars, and novel medical devices.
Eligible medical-device projects include AI and machine-learning-based devices, software used as or within medical devices, genetic diagnostic and screening technologies, robotic surgical devices, telemedicine-enabled devices and novel in-vitro diagnostic devices supporting precision medicine.
The PRIP Scheme was launched in 2023 to promote research and innovation in the pharmaceutical and MedTech sectors. The government said the scheme also seeks to strengthen research infrastructure, deepen the pool of qualified and trained students, and support the development of commercially viable innovations.
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