New Delhi: The government has completed disbursal of Research, Development and Innovation (RDI) Fund support to some selected firms, while funding for the remaining selected companies is under process and expected to be completed shortly, the Ministry of Science and Technology said.
The update was shared during the monthly review meeting of science ministries and departments chaired by Union Minister of State (Independent Charge) for Science and Technology Dr Jitendra Singh in New Delhi on August 19.
Officials informed the minister that the process of selecting and announcing additional Second-Level Fund Managers (SLFMs) is also underway and is expected to be completed within around two weeks.
The SLFMs will be responsible for identifying eligible companies and managing investments under the approved RDI Fund framework. The ministry said their selection is being carried out through a transparent process to ensure fairness and equal opportunity.
The ₹1 lakh crore RDI Fund was approved by the Union Cabinet on July 1, 2025 and formally launched on November 3, 2025. The initiative is aimed at increasing private-sector participation in research and development and supporting the development and commercialisation of indigenous technologies.
Under the framework, the Technology Development Board (TDB) and Biotechnology Industry Research Assistance Council (BIRAC) were earlier sanctioned ₹1,000 crore each as Second-Level Fund Managers. Of this, ₹500 crore was disbursed to TDB in March 2026, according to earlier government data.
During the latest review, Singh was also briefed about safeguards incorporated into the RDI Fund’s conflict-of-interest policy.
The ministry said stringent protocols are being followed for fund disbursement and investment decisions to protect taxpayers’ money as well as private capital and ensure transparency, fairness and accountability.
Singh said suggestions from stakeholders for strengthening these safeguards would be welcome and additional measures could be considered wherever feasible.
According to the ministry, 50 per cent of the investment under the mechanism is expected to come from private equity sources. Singh said this places responsibility on investment committees to safeguard both public money and private capital.
He also called for faster timelines and said due diligence should not unnecessarily delay funding to eligible firms.
The government is also examining a wider sectoral scope for the RDI Fund following consultations with different ministries.
Inputs were sought to identify strategically important areas that may require support beyond the sectors initially proposed. An expert committee subsequently recommended broadening the framework to accommodate a wider range of technological priorities.
The review also highlighted the need for the innovation funding ecosystem to remain flexible as technologies evolve rapidly, particularly in areas such as Artificial Intelligence.
Separately, officials reviewed the Sah-SANKALP initiative, under which 60 government-supported technologies have been showcased.
Of these, 56 have been deployed at the grassroots level and 41 have reached Technology Readiness Levels 8 or 9. CSIR has also reported interest from enterprises and entrepreneurs in adopting 38 of the technologies.
Preparations for the Emerging Science, Technology and Innovation Conclave (ESTIC) 2026 were also reviewed.
The conclave is scheduled to be held from October 27 to 29 at Bharat Mandapam in New Delhi. Three Nobel Laureates and three other distinguished international award recipients have confirmed participation, while the exhibition is planned to include up to 150 stalls.
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