Government Reaffirms RDI Fund Conflict-of-Interest Safeguards and Merit-Based Evaluation
The Government of India, through senior officials from the Department of Science and Technology (DST), Technology Development Board (TDB), and Anusandhan National Research Foundation (ANRF), conducted a press conference on August 7, 2026, to detail the robust institutional framework governing the Research, Development and Innovation (RDI) Fund. The conference addressed conflict-of-interest safeguards and disbursement mechanisms, emphasizing transparency, merit-based evaluation, and stringent governance protocols.
Governance Framework and Conflict-of-Interest Management
The RDI Fund implementation guidelines explicitly recognize that experts evaluating cutting-edge technologies often possess prior experience in the innovation ecosystem, including professional or investment associations. The framework is designed to regulate rather than exclude such domain expertise through clearly defined conflict-of-interest provisions. These include mandatory disclosure of interests, structured decision-making processes, and complete recusal wherever potential conflicts arise. TDB has implemented an even more stringent COI policy requiring Investment Committee members to ensure no project proposals are submitted by entities where they serve as CEO, founder, or shareholder during their committee tenure.
Evaluation and Approval Process
Project approvals are determined collectively by an Investment Committee comprising independent external experts from technology, industry, and investment domains. Government officials do not determine technical merit, and the TDB Member Secretary holds no voting rights. Approvals require a supermajority of eligible members rather than a simple majority, providing additional institutional safeguards. Members declaring conflicts neither participate in discussions nor vote on concerned proposals. The Investment Committee recommends projects through supermajority for final consideration and approval by the TDB Board.
Funding Structure and Disbursement Conditions
Assistance under the RDI Fund is provided as soft loans for specific research and technology development projects, not as financial support to companies as entities. Expenditure incurred before proposal submission is excluded from consideration. Government assistance is released only against matching investments mobilized from eligible non-government sources after project approval, ensuring public funding catalyzes additional private investment while maintaining financial discipline.
Project Selection and Beneficiary Details
In the first funding round, 22 deep-science companies building sovereign technologies and solving critical problems were approved. Many technologies being developed are first-time in India and among very few globally. These companies typically cannot raise debt during early stages and have received equity from angel investors and venture capital funds where no Investment Committee member is conflicted. Several projects had previously undergone independent evaluation through national innovation platforms before RDI Fund consideration, and some beneficiary companies had received project-based support from TDB years before attracting private investments.
Historical Context and Institutional Continuity
The Technology Development Board, established under an Act of Parliament in 1996, has consistently followed similar conflict-of-interest safeguards for nearly three decades while supporting indigenous technology development. The same institutional principles governing project selection continue under the RDI Fund, reinforcing continuity, credibility, and public confidence in the decision-making process.