Jitendra Singh Unveils 1St Open Call Under RDI Fund For High-Risk Tech Commercialisation

(MENAFN- IANS) New Delhi, Feb 4 (IANS) Union Minister of State (Independent Charge) for Science & 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.

The Minister said that nearly 191 proposals have been received, with a significant majority coming from the private sector.

“This response reflects growing confidence among private enterprises in the government's commitment to support innovation-led growth,” Singh said.

“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,” he added.

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.

The RDI Fund, part of the Anusandhan National Research Foundation (ANRF), launched by Prime Minister Narendra Modi in November 2025, aims to strengthen India's innovation ecosystem by supporting the commercialisation of indigenous technologies through structured and long-term financing.

The RDI Fund enables private enterprises to scale technologies in sectors that were earlier largely confined to the public domain.

It 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.

Singh stated that the structure has been designed to make access to capital easier for technology developers while maintaining financial discipline.

The funding framework provides for collateral-free financing, with no requirement for personal or corporate guarantees. Proposal evaluation will be based on scientific, technological, financial, and commercial merit, with defined timelines for evaluation and disbursement, the Minister said.

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