Union Minister of State for Science & Technology, Dr. Jitendra Singh, has initiated the first open call of the Technology Development Board’s Research, Development, and Innovation Fund. The Minister disclosed that the Board received nearly 191 proposals, predominantly from the private sector, indicating a rising confidence in the government’s backing of innovation-driven progress.
Singh emphasized the importance of ensuring that applications align with the scheme’s essence and that funds are utilized for authentic technology advancement and expansion. The initial call under the RDI Fund is geared towards backing projects at Technology Readiness Level (TRL) 4 and beyond. Financial backing, provided through Second Level Fund Managers, may take the form of loans, equity, or hybrid instruments based on project needs.
The funding support can reach up to 50% of the total project cost, with corresponding contributions from companies or private investors. The RDI Fund, a component of the Anusandhan National Research Foundation launched by Prime Minister Narendra Modi in November 2025, aims to fortify India’s innovation landscape by facilitating the commercialization of homegrown technologies through structured and enduring financing.
This fund empowers private enterprises to expand technologies in sectors previously dominated by the public domain. With a total corpus of Rs 1 lakh crore, the RDI Fund offers financing at preferential interest rates of approximately 2-4%, coupled with extended tenures of up to 15 years, including moratorium provisions. Singh highlighted that the framework is crafted to streamline capital access for technology developers while upholding financial prudence.
The funding mechanism allows for collateral-free financing without the need for personal or corporate guarantees. Evaluation of proposals will be based on scientific, technological, financial, and commercial viability, with clear timelines for assessment and disbursement, as per the Minister’s statement.
