Research, Development and Innovation (RDI) funding for industry-backed projects will commence by the end of January, Union Minister of State (Independent Charge) for Science and Technology Dr Jitendra Singh said on Monday, marking the operational rollout of a ₹1 lakh crore initiative aimed at boosting private sector-led research and innovation.
The announcement was made after Singh chaired a review meeting of the RDI Fund scheme, which was approved by the Union Cabinet on July 1 last year and formally launched by Prime Minister Narendra Modi on November 3, 2025. The scheme is designed to support high-risk, high-impact research and strengthen collaboration among laboratories, startups and industry.
The Department of Science and 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. Both public sector institutions are expected to issue their first calls for proposals by the end of January 2026, enabling early deployment of funds to innovation-driven ventures that have crossed Technology Readiness Level (TRL)-4.
Under the implementation framework, TDB will manage projects across all RDI sunrise and strategic sectors, while BIRAC will oversee initiatives in biotechnology and allied areas. In the first quarter, both organisations will receive an initial allocation of ₹2,000 crore each, taking the total initial disbursement under the scheme to ₹4,000 crore.
Officials informed the Minister that the RDI Fund aims to catalyse private investment in research by supporting translational and commercially viable projects, and by strengthening linkages between public research institutions, startups and industry. Other potential Second-Level Fund Managers, including Alternate Investment Funds (AIFs), Development Finance Institutions (DFIs), Non-Banking Finance Companies (NBFCs) and Focused Research Organisations (FROs), have time until January 31, 2026, to submit their applications.
Singh emphasised the need for timely execution of the scheme and close coordination among science ministries. He underlined that public investment in research and innovation must deliver measurable outcomes for industry and society, and align with national development priorities. The Minister also reviewed steps taken to streamline procedures, including revisions to implementation guidelines based on stakeholder feedback, to ensure transparency and ease of participation.
The review meeting was attended by Secretaries and senior officials from various science ministries and departments. The proceedings began with welcome remarks by Principal Scientific Adviser to the Government of India Prof Ajay K. Sood, followed by opening remarks by Singh.
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