Union Minister for Science & Technology Dr. Jitendra Singh called for greater awareness and outreach about the ₹1 lakh crore Research, Development and Innovation Fund (RDI Fund) among stakeholders to ensure appropriate applicants understand its purpose, eligibility criteria, and application process. Speaking at the 30th Foundation Day of the Technology Development Board (TDB), the Minister emphasized that thousands of applications are being received, including from applicants who misunderstand the fund as conventional financing rather than its intended purpose of supporting technology development and research that contributes to national economic growth.
The Minister stressed that the funding process is transparent with proper safeguards, though the government remains open to additional safeguards where feasible. He called for efforts to ensure stakeholders understand the fund's spirit and purpose so benefits reach appropriate beneficiaries. Dr. Singh highlighted that TDB must educate potential beneficiaries and help change stakeholder mindsets to keep pace with rapidly evolving technology and policy frameworks.
Dr. Singh credited Prime Minister Narendra Modi with placing science, technology and innovation high on the government agenda, describing the last 12 years as a decade of scientific renaissance in India. He emphasized TDB's role in translating laboratory technologies into products, solutions and enterprises that bring ease of living to citizens, provide livelihoods, and contribute to the economy. The Minister noted TDB has supported ventures beyond narrowly defined domains, including examples like Skyroot and BotLab, by moving beyond conventional bureaucratic approaches.
The Minister highlighted several key trends in the startup ecosystem: over 50% of startups now come from smaller towns (not just Bengaluru or Hyderabad), entrepreneurship is not restricted to young people, and there is significant women participation. He emphasized the importance of private-sector participation in sectors including space, biotechnology, and nuclear, through resource pooling and integration among institutions.
Looking forward, Dr. Singh stated that TDB should support technology development both in early phases and at later stages (noting RDI Fund offers support at TRL4 level), and should focus on building global technology champions from India. He positioned the first thirty years of TDB as building bridges between laboratory and market, while the next thirty years should focus on creating global technology leaders. The Minister also called for developing a culture of philanthropy in research, describing funding research that contributes to human well-being as a form of worship.