RDI Fund Should Not Be Treated As Conventional Loan Facility, Greater Awareness Needed: MoS
New Delhi: Union Minister for Science & Technology Dr. Jitendra Singh on Tuesday called for greater awareness and outreach about the Rs 1 lakh crore Research, Development and Innovation (RDI) Fund so that eligible applicants understand its purpose, eligibility and application process.
He urged the Technology Development Board to play an active role in educating stakeholders and ensuring the fund supports technology development that translates laboratory research into solutions that contribute to the national economy, an official statement said.
Dr Singh, addressing the 30th Foundation Day of the Technology Development Board, warned that thousands of applications indicate confusion about the fund’s intent and cautioned against treating it as a conventional loan facility.
The minister emphasised that the funding process is already transparent, with proper safeguards in place, adding that the government is open to suggestions for further safeguards.
Dr Singh said that the first thirty years of TDB built the bridge between the laboratory and the market, and the next thirty years must focus on building global technology champions from India.
The minister stressed that while technology and policy frameworks are changing rapidly, the mindset of stakeholders also needs to change accordingly.
TDB was established to ensure technologies do not remain confined to laboratories but are translated into products, solutions and enterprises that can bring ease of living to citizens, provide livelihoods and contribute to the overall economy of the country, the minister noted.
Dr Singh credited Prime Minister Narendra Modi with placing science, technology and innovation high on the government agenda. He described the period as a decade of scientific renaissance in the country, highlighting achievements in science and technology and India’s ability to deliver cost-effective successes.
The minister noted that over 50 per cent of Indian startups are from smaller towns, and that entrepreneurship is not necessarily restricted to young people.
(IANS)
