Stories
Technology Development Board Halts RDI Fund Invitations Amidst Funding Concerns
- •The Technology Development Board (TDB) will pause invitations for the Rs 1 lakh crore Research, Development and Innovation (RDI) fund after September due to "administrative reasons."
- •The RDI fund, established in 2025 with a six-year corpus, aims to provide low-cost, long-term loans for advanced research in deep-tech sectors like AI and quantum technology.
- •Media reports suggest the fund did not receive the necessary money after an initial round of funding, raising questions about its future.
- •The TDB and Biotechnology Industry Research Assistance Council (BIRAC) were designated as the first Second-Level Fund Managers (SLFMs) for the scheme.
- •The decision to close invitations follows allegations of conflict of interest in fund disbursement, with some selected companies reportedly having ties to TDB selection panel members.
Key Questions Answered
Created by the government in 2025, the Research, Development and Innovation (RDI) fund provides low-cost, long-term loans to private companies engaged in advanced research and innovation within deep-tech sectors like artificial intelligence, quantum technology, and space science.
The Technology Development Board is pausing invitations for the fund at the end of September citing administrative reasons, following media reports that the fund did not receive necessary money after one round and previous allegations of conflict of interest in loan disbursements.
Officials stated that conflicts cannot entirely be avoided because experts hold direct or fund investments. However, the guidelines mandate proper disclosure, structured decision-making processes, and mandatory recusal to safeguard the integrity of funding choices.
