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ETV Bharat / bharat
By ETV Bharat English Team
Published : February 4, 2026 at 7:29 PM IST
New Delhi: Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, and Minister of State for the Prime Minister’s Office, Personnel, Public Grievances and Pensions, Atomic Energy and Space, Jitendra Singh on Tuesday 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), marking a major push to strengthen India’s innovation ecosystem through long-term, structured financing for indigenous technologies.
The initiative aims to support the commercialisation and scale up home-grown technologies by providing affordable, risk-sharing financial support to private enterprises, an approach the government described as a significant departure from conventional funding models that have historically relied on grants, philanthropy, or corporate social responsibility (CSR) investments.
Addressing the gathering, Jitendra Singh said the RDI Fund represents one of the first instances globally where a government is directly extending large-scale financial support to private sector innovation. “We have heard of governments asking philanthropists or CSR investors to raise funds, but we have not heard of governments funding the private sector at this scale,” he said, adding that the move reflects a conscious policy shift to empower private enterprises to take technology from the laboratory to the marketplace.
The Minister noted that India’s innovation landscape has undergone a fundamental transformation in recent years, particularly with the opening up of strategic sectors such as space and nuclear energy to private participation, areas that were traditionally confined to the public sector for decades. “Many in the private sector were taken by surprise when these sectors were opened up. The RDI Fund has been designed precisely to support this transition by reducing financial risk while ensuring accountability,” he said.
According to Jitendra Singh, the RDI Fund has a total corpus of ₹1 lakh crore and offers financing at highly concessional interest rates of around 2–4 per cent. The funding comes with long tenures of up to 15 years, including moratorium provisions, making it easier for technology developers to access capital without immediate repayment pressures. Importantly, the fund also includes equity-linked options, allowing the government to share risk with innovators while promoting responsible commercialisation.
“This is perhaps the easiest possible form of technology financing available today, low interest, long-term, flexible, and with equity provisions to cover risk,” the Minister said, underlining that the structure balances ease of access with financial discipline.
Jitendra Singh also shared details of the response received under the first TDB Call, describing it as “gladdening” and reflective of growing private sector confidence in the government’s innovation agenda. Nearly 191 proposals have been received so far, of which more than 160 are from the private sector. Only a small fraction involve government-linked entities.
“This shows a huge amount of interest and trust from private enterprises in this initiative,” he said, while cautioning that it is equally important to maintain the sanctity and spirit of the scheme. He observed that decades of experience with government lending have sometimes conditioned applicants to view public funds as easy money. “We have to ensure that the funding is applied for and utilised in the true spirit in which this initiative has been launched, namely, for genuine technology development and scale-up,” he added.
The Minister emphasised that the RDI Fund is part of a larger, evolving innovation ecosystem that includes public-private partnerships, core research funding, and other enabling mechanisms. He said the fund is intended to support companies that have already reached a certain level of technological maturity and are ready to “take off” into commercial deployment, rather than early-stage ideas without a clear development roadmap.
As outlined during the event, the first TDB Open Call under the RDI Fund focuses on projects at Technology Readiness Level (TRL) 4 and above, indicating technologies that have moved beyond basic research and are ready for validation, demonstration, or early commercialisation. Funding assistance is to be channeled through Second Level Fund Managers (SLFMs) as either a loan, equity or hybrid products depending upon the specific project’s individual requirements and its respective risk profile within the project(s).
With up to a 50 percent government funded contribution available under this program for eligible companies or individual investors, companies and individual investors will have a further 50 percent contribution to supply themselves. The significant advantage of this funding program is that ALL of the funding will be without requiring any assets to secure the loan or equity instruments; therefore creating a much larger opportunity for technology based companies to utilize the funds due to their asset challenged balance sheets.
Scientifically/technologically, financially and commercially different types of funding request will be reviewed separately according to key timelines regarding evaluations and funding approval. This program does not provide a grant funding component; instead, it is focused exclusively on supporting the companies involved in commercializing the technology(s) for use in a long-term sustainable manner rather than one-time funding support for research purposes.
The event included multiple government officials and high profile stakeholders associated with India’s Science, Technology, and Innovation environment. In particular, those present at the podium included Shri Rajesh Pathak, Secretary, Technology Development Board; and Professor Abhay Karandikar, Secretary, Department of Science and Technology who discussed the day-to-day operational details and the role of TDB in the operational success of the fund on behalf of the TDB.
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 vision to build indigenous technological capabilities, reduce import dependence, and strengthen India’s innovation-led economy.
Launching the first TDB Call under the RDI Fund, Jitendra Singh called upon innovators, industry leaders, and the media to actively disseminate information about the initiative. He stressed that wide awareness is essential to ensure that eligible enterprises from across the country, especially beyond established innovation hubs, are able to participate meaningfully.
“This is a new experience for all of us,” the Minister said, expressing confidence that with careful implementation and responsible participation, the RDI Fund can become a cornerstone of India’s technology and innovation journey over the next 25 years.
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