RDI Funding For Industry Projects To Start By This Month End:...

Key Highlights

• During the meeting, Dr.
• Jitendra Singh was briefed on the progress of the Research, Development and Innovation (RDI) scheme, which 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 the Prime Minister.
• Officials informed the Minister that the scheme is aimed at supporting high-risk, high-impact research and strengthening linkages between laboratories, startups and industry.
• 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 Research, Development and Innovation (RDI) Fund, a ₹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.