Anusandhan National Research Foundation to Host Special Purpose Fund under RDI Scheme

The Department of Science and Technology (DST) approves the Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC) as the first Second-Level Fund Managers (SLFMs) under the RDI Scheme. The scheme provides a two-tiered funding mechanism in which a Special Purpose Fund (SPF) is established within the Anusandhan National Research Foundation (ANRF) to act as custodian of funds.

Research Development and Innovation (RDI) Scheme:

Dimension	Key Details
Approved by	Department of Science and Technology (DST) approves the first Second-Level Fund Managers (SLFMs) under the scheme.
Provides for	Long-term financing or refinancing with long tenors at low or nil interest rates to spur private investments.
Fund allocation	₹1 lakh crore.
Funding mechanism	Comprises a two-tiered funding mechanism.
Special Purpose Fund	Established within the Anusandhan National Research Foundation (ANRF) and acts as the custodian of funds.
Second-Level Fund Managers	Funds from the SPF are allocated here.
Forms of funding	Comprises long-term concessional loans or equity funding (for startups).
First approved	Technology Development Board (TDB) and Biotechnology Industry Research Assistance Council (BIRAC).