Govt picks fund managers for ₹1 tn deep-tech boost

DST has appointed BIRAC and TDB, and is set to add Sidbi and SBI Funds Management soon

- Shouvik Das

The approvals mark the first concrete step toward operationalizing the Centre's RDI incentivization scheme, announced earlier this year and cleared by the Union cabinet in July.

(BLOOMBERG)

The Department of Science and Technology (DST) has cleared two fund managers and is close to shortlisting two more to operationalize the Centre's ₹1 trillion research, development and innovation (RDI) incentivization scheme, three senior officials in the know said.

The approvals represent the first concrete step toward implementing the scheme, announced earlier this year and cleared by the Union Cabinet in July, aimed at boosting domestic deep-tech research and development.

With the fund-management structure now taking shape, the first tranche of startup applications under the RDI scheme is expected to open by March, covering industrial electronics, semiconductors, and quantum computing.