TDB and BIRAC Approved as First Fund Managers
The Department of Science & Technology (DST) has approved the Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC) as the first Second-Level Fund Managers (SLFMs) under the RDI Fund. TDB will manage projects across sunrise and strategic sectors, while BIRAC will oversee initiatives in biotechnology and allied domains. Both organisations are expected to issue their first calls for proposals by the end of January, facilitating early deployment of funds to innovation-driven ventures.
Funding Framework and Objectives
Launched formally on 3 November 2025 by Prime Minister Narendra Modi, the RDI Fund seeks to support high-risk, high-impact research, strengthen linkages between laboratories, startups, and industry, and promote translational research. The scheme prioritises projects that have advanced beyond Technology Readiness Level (TRL) 4, ensuring early-stage innovations receive targeted support for commercialisation.
Each of the first two SLFMs will receive an initial allocation of ₹2,000 crore in the first quarter, taking the total initial allocation under the scheme to ₹4,000 crore. The deadline for applications from other potential Second-Level Fund Managers, including Alternate Investment Funds, DFIs, NBFCs, and Focused Research Organizations, is 31 January 2026.
Streamlining Processes for Stakeholders
Dr. Jitendra Singh highlighted the need for timely execution and close coordination among science departments to ensure public investment translates into tangible outcomes for industry and society. He reviewed steps taken to streamline implementation, including revisions to guidelines based on stakeholder feedback, operationalization of the digital portal, and clarity on application procedures.
The meeting also emphasised thematic clustering of startups to foster collaborative innovation ecosystems, promoting stronger linkages between public research institutions, startups, and industry players.
Expected Impact on India’s Innovation Landscape
With TDB and BIRAC leading initial funding efforts, the RDI Fund is poised to accelerate private sector participation in research and innovation. By providing financial support to high-potential projects, the scheme is expected to strengthen India’s research infrastructure, promote commercialization of scientific outputs, and align innovation with national development priorities.
The review meeting, chaired by Dr. Jitendra Singh, was attended by Secretaries and senior officers from various science ministries. Prof. Ajay K. Sood, Principal Scientific Adviser, provided welcome remarks, underlining the importance of effective coordination for the scheme’s success.
