Venture Intelligence (TSJ Media Pvt. Ltd.)
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SIDBI, SBI Funds being considered for managing RDI deeptech FoF
The Department of Science and Technology (DST) has approved Biotechnology Industry Research Assistance Council (Birac) and Technology Development Board (TDB) as fund managers for the Centre’s INR 1 Trillion Research, Development and Innovation (RDI) incentivisation scheme.Additionally, Small Industries Development Bank of India (Sidbi) and SBI Funds Management Ltd, the alternative investment fund (AIF) arm of SBI, are close to being finalised as two more fund managers for the scheme.The RDI scheme aims to strengthen domestic deep-tech research and development (R&D). The first tranche of applications from startups under this scheme is expected to open by March 2026, focusing on sectors such as industrial electronics, semiconductors, and quantum computing. Disbursals from the fund are anticipated to commence by the end of 2026. Companies seeking funding under the scheme will be required to raise an equivalent amount from private investors, adopting a 50-50 funding model.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.