Research Development and Innovation Scheme:
The Executive Council of the Anusandhan National Research Foundation approved the establishment of a special purpose fund (SPF) for the Research Development and Innovation Scheme (RDI) scheme.
- It aims to provide long-term financing or refinancing with long tenors at low or nil interest rates to spur private sector investment in Research Development and Innovation.
- Key objectives of the Research Development and Innovation Scheme:
- Encourage the private sector to scale up research, development, and innovation (RDI) in sunrise domains and in other sectors relevant for economic security, strategic purpose, and self-reliance;
- Finance transformative projects at higher levels of Technology Readiness Levels (TRL)
- Support acquisition of technologies which are critical or of high strategic importance;
- Facilitate setting up of a Deep-Tech Fund of Funds.
- The Governing Board of Anusandhan National Research Foundation (ANRF), chaired by the Prime Minister, will provide overarching strategic direction to the RDI Scheme.
- Nodal Department: The Department of Science & Technology (DST).
