Jitendra Singh unveils first RDI fund, attracts 191 proposals

Union Minister of State for Science and 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, marking a major step towards strengthening India’s innovation ecosystem through structured, long-term financing for indigenous technologies. The initiative, unveiled under the Anusandhan National Research Foundation (ANRF), aims to support the commercialisation of high-risk, high-impact technologies and represents a significant shift from conventional government funding models. Addressing the launch event, Dr Singh said the RDI Fund fills a long-standing gap by enabling direct, government-backed financial support to private sector innovation, which has traditionally relied on philanthropy or CSR-led investments.
Dr Singh revealed that the first call has already received nearly 191 proposals, the majority from the private sector, reflecting growing confidence among enterprises in the government’s commitment to innovation-led growth. He stressed the importance of ensuring that applications align with the spirit of the scheme and that funds are utilised strictly for genuine technology development and scale-up. He noted that the opening up of strategic sectors such as space and nuclear energy to private participation has transformed India’s innovation landscape. The RDI Fund, he said, has been designed to support this transition by reducing financial risk while ensuring accountability, offering long-term and affordable financing with equity-linked options to share risk responsibly.

He revealed that the first call has already received nearly 191 proposals, the majority from the private sector, reflecting growing confidence among enterprises in the government’s commitment to innovation-led growth. He stressed the importance of ensuring that applications align with the spirit of the scheme and that funds are utilised strictly for genuine technology development and scale-up.
The RDI Fund has a total corpus of Rs1 lakh crore and offers concessional financing at interest rates of around 2–4 per cent, with repayment tenures of up to 15 years, including moratorium provisions. According to the Minister, the structure is intended to ease access to capital for technology developers while maintaining financial discipline.