New Delhi is gearing up for a major boost in research innovation as funding for industry-supported projects under the Research, Development, and Innovation (RDI) scheme kicks off by the end of this month. This pivotal initiative, now in its implementation phase, sees two public sector institutions ready to disburse funds, marking a significant step towards bridging academia and industry.
The announcement came from the Ministry of Science and Technology following a high-level review meeting chaired by Union Minister of State (Independent Charge) for Science and Technology, Dr. Jitendra Singh. The meeting assessed the progress of the RDI scheme, which received Cabinet approval on July 1 last year and was formally launched on November 3 by the Prime Minister, complete with guidelines, application calls, and a dedicated digital portal.
Officials briefed the minister on the scheme’s core objectives: supporting high-risk, high-impact research while fostering stronger ties between laboratories, startups, and the industrial sector. This alignment is expected to accelerate the translation of scientific breakthroughs into commercial and societal benefits.
In a key development, the Department of Science and Technology (DST) has designated the Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC) as Second-Level Fund Managers (SLFMs) under the RDI fund. These institutions will handle the initial funding for industry-backed projects.
Dr. Jitendra Singh emphasized that enhancing private sector participation in R&D remains a cornerstone of the RDI framework. ‘The goal is to create robust linkages between public research institutes, startups, and industry, ensuring research outcomes swiftly move towards practical applications,’ he stated.
This launch comes at a critical time when India aims to position itself as a global innovation hub. By incentivizing collaborative projects, the scheme addresses longstanding gaps in funding for translational research, potentially spurring advancements in key sectors like biotechnology, manufacturing, and emerging technologies.
Stakeholders in the industry have welcomed the move, viewing it as a catalyst for innovation-driven growth. As applications open soon, researchers and companies are urged to leverage the digital portal for seamless participation.
With this initiative, the government underscores its commitment to ‘Aatmanirbhar Bharat’ through science and technology, promising a new era of industry-academia synergy.