Govt invites Pharma MedTech companies for funding: Apply now

Last Updated on March 17, 2025 by The Health Master

Pharma MedTech

The Indian pharmaceutical and medical technology landscape (Pharma MedTech) is poised for a significant transformation.

The Department of Pharmaceuticals (DOP) has just dropped a major announcement, inviting proposals for substantial funding under the pivotal Promotion of Research and Innovation in Pharma MedTech sector (PRIP) scheme.

This initiative signifies a strong push towards innovation, moving the sector from a cost-driven model to one fueled by cutting-edge research.

A Call for Innovation: The Expression of Interest (EoI)

The DOP has released an Expression of Interest (EoI), seeking preliminary information from a wide range of entities.

This EoI includes all the companies e.g., Proprietary firms, Partnerships, Limited Liability Partnerships (LLPs), Startups, and established companies registered in India.

This EoI is specifically for Component B of the PRIP scheme which may include direct project funding.

First step is a crucial step which is designed to know the interest and for gathering initial insights before the process for a formal application.

What is the PRIP Scheme ?:

The PRIP scheme was launched in 2023 and it is a landmark initiative developed by the government to enhance the capabilities of Research and Development (R&D) in the Pharma MedTech sector in India.

The scheme aims to accelerate investments in the R&D ecosystem with a financial outlay of ₹5,000 crore.

₹4,250 crore is specifically allocated for the PRIP scheme which may include direct project funding.

Key Funding Priorities:

There six critical areas as under:

• New Chemical Entities (NCEs): Developing novel drug molecules.
• Complex Generics and Biosimilars: Accessing the easy availability of affordable, high-quality medicines.
• Precision Medicine: Developing treatments as per the individual patient need.
• Medical Devices: Advancing the medical technology.
• Orphan Drugs: Limited treatment options for the rare diseases.
• Drug Development for Antimicrobial Resistance (AMR): To overcome the growing threat of antibiotic resistance.

Financial Support and Eligibility criteria:

₹250 crore has been allocated for the PRIP scheme in the recent Indian Union Budget for FY 2025-26.

Funding up to 35% of the total project cost, or ₹125 crore, whichever is less, may be given to R&D projects aligned with the priority areas.

Eligibility criteria is that the companies should have annual revenue of less than ₹1,000 crore for pharma entities and ₹250 crore for MedTech players.

Key Dates to Remember

Final deadline for submission of EoI is April 7th, 2025.

This provides enough time for interested companies to prepare their proposals.

• Pharma MedTech funding, Research-Linked Incentive scheme, Precision medicine investment, Complex generics development, AMR drug research grants, PRIP Scheme in India,

Disclaimer: This article contains information obtained from the source mentioned below. Our team made changes in the format to rewrite and present the news or article in a unique format.

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