The government has opened applications for the PRIP scheme, inviting industry and startups to submit proposals for pharma and MedTech innovation projects, with funding support up to ₹100 crore for late-stage initiatives.
Backed by a ₹5,000 crore outlay, the scheme aims to support 300 projects and catalyse ₹11,000 crore in R&D investments in new medicines and medical devices. MSMEs, startups, and industry players can apply digitally, with early-stage projects eligible for up to ₹5 crore and late-stage projects for up to ₹100 crore.