Union Minister of State (Independent Charge) for Science and Technology Dr. Jitendra Singh on Wednesday launched the first open call of the Technology Development Board (TDB) under the Research, Development and Innovation (RDI) Fund, marking a major step towards strengthening India’s innovation ecosystem through structured, long-term financing for indigenous technologies.
The initiative, unveiled under the Anusandhan National Research Foundation (ANRF), aims to support the commercialisation of high-risk, high-impact technologies and represents a significant shift from conventional government funding models. Addressing the launch event, Singh said the RDI Fund fills a long-standing gap by enabling direct, government-backed financial support to private sector innovation, which has traditionally relied on philanthropy or CSR-led investments.
He noted that the opening up of strategic sectors such as space and nuclear energy to private participation has transformed India’s innovation landscape. The RDI Fund, he said, has been designed to support this transition by reducing financial risk while ensuring accountability, offering long-term and affordable financing with equity-linked options to share risk responsibly.
The RDI Fund has a total corpus of ₹1 lakh crore and offers concessional financing at interest rates of around 2–4 per cent, with repayment tenures of up to 15 years, including moratorium provisions. According to the Minister, the structure is intended to ease access to capital for technology developers while maintaining financial discipline.
Singh revealed that the first call has already received nearly 191 proposals, the majority from the private sector, reflecting growing confidence among enterprises in the government’s commitment to innovation-led growth. He stressed the importance of ensuring that applications align with the spirit of the scheme and that funds are utilised strictly for genuine technology development and scale-up.
The first TDB call under the RDI framework focuses on projects at Technology Readiness Level (TRL) 4 and above, particularly in emerging areas such as artificial intelligence, energy, and deep-tech. Funding support of up to 50 per cent of the total project cost will be provided through Second Level Fund Managers (SLFMs) in the form of loans, equity, or hybrid instruments, with matching contributions from companies or private investors.
A key feature of the scheme is collateral-free financing, with no requirement for personal or corporate guarantees. Proposals will be evaluated on scientific, technological, financial, and commercial merit, with defined timelines aimed at approvals within eight weeks. The initiative does not offer grant funding and is focused on enabling sustainable commercial deployment of technologies.
The RDI Fund was approved by the Union Cabinet in July 2025 and formally launched by Prime Minister Narendra Modi in November 2025 as part of the government’s long-term strategy to build indigenous technological capabilities and strengthen India’s innovation-driven economy.
The launch event was attended by senior officials and stakeholders from the science and technology ecosystem, including TDB Secretary Rajesh Pathak and Department of Science and Technology Secretary Prof. Abhay Karandikar. Calling for wider participation, Singh urged innovators, industry, and the media to actively spread awareness about the initiative to ensure that eligible enterprises across the country benefit from the new financing window.
