The government will begin disbursing Research, Development and Innovation (RDI) funding for industry-backed projects by the end of this month, with the scheme having entered the execution phase, officials said on Monday.
The update was shared during a review meeting of the RDI Fund scheme chaired by Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, Dr. Jitendra Singh.
The RDI scheme, approved by the Union Cabinet on July 1 last year, was formally rolled out on November 3, 2025, when Prime Minister Narendra Modi launched its implementation guidelines, issued the notice inviting applications, and unveiled a dedicated digital portal. The scheme aims to support high-risk, high-impact research while strengthening linkages between research 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 ₹1 lakh crore RDI Fund, a flagship initiative designed to catalyse private sector-led research and innovation.
Under the approved framework, TDB will manage projects across all sunrise and strategic sectors, while BIRAC will oversee funding for biotechnology and allied areas. Both organisations are expected to issue their first calls for project proposals by the end of January 2026, enabling early deployment of RDI funds to innovation-driven ventures that have crossed Technology Readiness Level (TRL)-4.
Officials informed the Minister that the Empowered Group of Secretaries, in its meeting held on January 12, approved BIRAC and TDB as SLFMs in line with the decision of the Executive Council of the Anusandhan National Research Foundation (ANRF). Each organisation will receive an initial allocation of ₹2,000 crore in the first quarter, taking the total initial disbursement under the scheme to ₹4,000 crore.
The government has also invited applications from other potential Second-Level Fund Managers, including Alternate Investment Funds (AIFs), Development Finance Institutions (DFIs), Non-Banking Financial Companies (NBFCs) and Focused Research Organisations (FROs). The last date for receiving applications is January 31, 2026.
During the review, Dr. Jitendra Singh stressed the importance of timely execution and close coordination among science departments, underlining that public investment in research must result in measurable outcomes for industry and society. He also reviewed steps taken to streamline procedures, including revisions to implementation guidelines based on stakeholder feedback, to ensure transparency and ease of participation.
The Minister reiterated that strengthening private sector participation in research and development remains a core objective of the RDI framework. He said the scheme is focused on translational research, enabling scientific outputs from public research institutions to move more effectively towards commercial and societal applications.
The meeting was attended by Secretaries and senior officials from various science ministries and departments. Proceedings began with welcome remarks by Principal Scientific Adviser to the Government of India, Prof. Ajay K. Sood, followed by opening remarks from the Minister.
