Rajesh Kumar Pathak, Secretary, Technology Development Board (TDB).
NEW DELHI: The Research, Development, and Innovation (RDI) Fund, a Rs 1 lakh crore program to support domestic companies, will eventually facilitate the Viksit Bharat (Developed India) 2047 vision. Nearly 400 applications are under scrutiny, after which the call for proposals will reopen, a top official said.
"If any society wants to become a developed society, it has to do through science and technology innovations. This fund will boost Atmanirbhar Bharat (self-reliant India) and Viksit Bharat 2047 vision," Rajesh Kumar Pathak, Secretary, Technology Development Board (TDB) told ET, adding that nearly 400 proposals are under review.
The broad mandate of TDB is to help domestic companies commercialise their research and development (R&D) initiatives. It allows companies who are at TRL 6-7 or at a level of commercialisation, the fund manager support them with 50% of their capital requirement to establish manufacturing units.
In November 2025, Prime Minister Narendra Modi launched RDI fund to nudge private sector to take initial risk, with patient capital so that they can further invest in R&D activities.
Currently, the country invests merely .8% of their overall revenue, in R&D with private sector contributing nearly 30%.
On the contrary, China and the United States spends more than 4% with private industry leading with 70% of the contribution.
"The government identified the impediment to R&D. The private sector was not coming since they do not want to take hit on their bottom line. So, the government is ready to associate with companies in the critical areas," Pathak said.
Last week, TDB temporarily paused the scheme due to a piling up of applications requiring scrutiny.
"We closed our call because there was so much influx of applications. Investment committee has to do certain techno-commercial analysis which is taking time. So, we realize we have lots of projects piled up. Once they are screened and finalized, then we will again reopen the call. So we have enough proposals in hand," the official said.
The RDI fund starts from the technology readiness level (TRL) 4, as per the Cabinet guidelines.
It comes through the Department of Science & Technology (DST) allows it to first-level fund manager which is Anusandhan National Research Foundation (ANRF) which selects the second-level fund manager such as TDB and Biotechnology Industry Research Assistance Council (BIRAC).
Pathak said that the private sector response has so far tremendous in areas such as quantum technology, deep tech, artificial intelligence (AI) for agriculture, space and biotechnology.
"In the last 10-12 years, the startup base has grown from nearly 500 to more than 2.5 lakhs. Many startups working in critical deep tech. So this fund is available for purely deep tech research where we need to create an IPR."
Recently, the TDB and the DST have entered into an agreement with Bengaluru-based BigEndian Semiconductors for financial support of ₹130 crore under the RDI Fund, for Project VeerAI through optional convertible debt (OCD).
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"If any society wants to become a developed society, it has to do through science and technology innovations. This fund will boost Atmanirbhar Bharat (self-reliant India) and Viksit Bharat 2047 vision," Rajesh Kumar Pathak, Secretary, Technology Development Board (TDB) told ET, adding that nearly 400 proposals are under review.
The broad mandate of TDB is to help domestic companies commercialise their research and development (R&D) initiatives. It allows companies who are at TRL 6-7 or at a level of commercialisation, the fund manager support them with 50% of their capital requirement to establish manufacturing units.
In November 2025, Prime Minister Narendra Modi launched RDI fund to nudge private sector to take initial risk, with patient capital so that they can further invest in R&D activities.
Currently, the country invests merely .8% of their overall revenue, in R&D with private sector contributing nearly 30%.
On the contrary, China and the United States spends more than 4% with private industry leading with 70% of the contribution.
"The government identified the impediment to R&D. The private sector was not coming since they do not want to take hit on their bottom line. So, the government is ready to associate with companies in the critical areas," Pathak said.
Last week, TDB temporarily paused the scheme due to a piling up of applications requiring scrutiny.
"We closed our call because there was so much influx of applications. Investment committee has to do certain techno-commercial analysis which is taking time. So, we realize we have lots of projects piled up. Once they are screened and finalized, then we will again reopen the call. So we have enough proposals in hand," the official said.
The RDI fund starts from the technology readiness level (TRL) 4, as per the Cabinet guidelines.
It comes through the Department of Science & Technology (DST) allows it to first-level fund manager which is Anusandhan National Research Foundation (ANRF) which selects the second-level fund manager such as TDB and Biotechnology Industry Research Assistance Council (BIRAC).
Pathak said that the private sector response has so far tremendous in areas such as quantum technology, deep tech, artificial intelligence (AI) for agriculture, space and biotechnology.
"In the last 10-12 years, the startup base has grown from nearly 500 to more than 2.5 lakhs. Many startups working in critical deep tech. So this fund is available for purely deep tech research where we need to create an IPR."
Recently, the TDB and the DST have entered into an agreement with Bengaluru-based BigEndian Semiconductors for financial support of ₹130 crore under the RDI Fund, for Project VeerAI through optional convertible debt (OCD).
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