Excelsior Correspondent
NEW DELHI, Feb 4: Union Minister of State (Independent Charge) for Science & Technology, Earth Sciences, and MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh today launched the first Open Call of the Technology Development Board (TDB) under the Research, Development and Innovation (RDI) Fund of the Anusandhan National Research Foundation (ANRF), with the objective of strengthening India’s innovation ecosystem by supporting the commercialisation of indigenous technologies through structured, long-term financing.
Addressing the event, Dr. Jitendra Singh, said that the initiative represents a rare and significant departure from conventional government funding models. He observed that while governments have traditionally encouraged philanthropy or CSR-led investments, direct government-backed financial support to private sector innovation has been limited. He said the RDI Fund seeks to bridge this gap by enabling private enterprises to scale technologies in sectors that were earlier largely confined to the public domain.
The Minister noted that the opening of strategic areas such as space and nuclear sectors for private participation has changed long-standing conventions, and the RDI Fund has been designed to support this transition by reducing financial risk while ensuring accountability. He said the fund provides long-term, affordable financing and includes equity-linked options to share risk, thereby supporting responsible commercialisation.
Dr. Jitendra Singh informed that the RDI Fund has a total corpus of Rs 1 lakh crore and offers financing at concessional interest rates of around 2-4 per cent, with long tenures of up to 15 years, including moratorium provisions. He said the structure has been designed to make access to capital easier for technology developers while maintaining financial discipline.
Referring to the response received under the first call, the Minister said that nearly 191 proposals have been received, with a significant majority coming from the private sector. He said this response reflects growing confidence among private enterprises in the government’s commitment to support innovation-led growth. The Minister added that it is important to ensure that applications are aligned with the spirit of the scheme and that funding is utilised for genuine technology development and scale-up.
The event was attended by senior officials and stakeholders from the science, technology, and innovation ecosystem. Those present on the dais included Rajesh Pathak, Secretary, Technology Development Board, and Professor Abhay Karandikar, Secretary, Department of Science and Technology.
As outlined during the event, the first TDB Call under the RDI Fund focuses on supporting projects at Technology Readiness Level (TRL) 4 and above. Funding support will be provided through Second Level Fund Managers (SLFMs) in the form of loans, equity, or hybrid instruments, depending on project requirements. The maximum funding support will be up to 50 per cent of the total project cost, with matching contributions from companies or private investors.
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