Blitz Bureau
NEW DELHI: The Rs 1 lakh crore Research, Development, and Innovation (RDI) fund for industry-backed projects will start by the end of this month, said Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, on January 20. Addressing a review meeting for the RDI Fund scheme, the Minister noted that the funding framework has entered into the execution phase, and two public sector institutions are poised to start funding industry-backed projects.
The RDI scheme was approved by the Union Cabinet on July 1 last year and formally rolled out on November 3 with the launch of its implementation guidelines, notice inviting applications, and a dedicated digital portal by Prime Minister Narendra Modi.
“The scheme is aimed at supporting high-risk, high-impact research and strengthening linkages between laboratories, startups and industry,” the Minister was informed during the meeting.
The Department of Science & Technology (DST) has approved the Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC) as the first Second-Level Fund Managers (SLFMs) under the RDI Fund, a Rs 1 lakh crore initiative to catalyse private sector-led research and innovation.
“Under the approved implementation framework, TDB will act as the Second-Level Fund Manager for projects spanning all RDI sunrise and strategic sectors, while BIRAC will oversee initiatives in biotechnology and allied domains. Both organisations are expected to issue their first calls for proposals by the end of January 2026, facilitating early deployment of RDI Fund resources to innovation-driven ventures that have progressed beyond TRL-4,” said the Ministry of Science & Technology.