New Delhi, Jan. 19 -- Nearly a year after the Centre first announced a Rs 1 lakh crore Research, Development and Innovation (RDI) Fund to accelerate scientific research with real-world applications, it will begin disbursing funds to industries and start-ups by the end of this month, according to an official document from the Ministry of Science and Technology issued on Monday.
The Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC), two public sector institutions, will oversee the execution of the RDI Scheme.
From the Rs 1 lakh crore committed over a period of five years between 2023 and 2028, TDB and BIRAC have been allocated Rs 2,000 crore each for the first quarter.
BIRAC will oversee ...