India Unveils RDI Fund to Boost Indigenous Tech Commercialisation

The Indian government has launched an initiative to fund the commercialisation of technologies beyond the lab stage through the Rs 1 lakh crore Research, Development and Innovation (RDI) Fund. The program seeks to support private sector innovation by providing financial backing towards technology scaling in various sectors.

The Indian government has announced a call for proposals from innovators to commercialise laboratory-proven technologies as part of its new funding initiative. This move, facilitated by the Technology Development Board (TDB), aims to bolster India's innovation ecosystem.

Science and Technology Minister Jitendra Singh declared the launch of the RDI Fund, seeking to fill the gap in financial support for private sector innovation. The fund targets Technology Readiness Level-4 and above projects, offering structured long-term financing opportunities.

Eligible projects may receive up to 50% funding of their total costs, with requirements for matching contributions from private investors. Evaluation of proposals will consider scientific, technological, and commercial merits, aiming for streamlined processes. The initiative marks a shift towards proactive government-backed support of private enterprises in technology commercialisation.

(With inputs from agencies.)