IITs, IISc and BITS Pilani Among 19 Fund Managers Approved Under ₹1 Lakh Crore RDI Scheme
The government has approved 19 fund managers under its ₹1 lakh crore Research, Development and Innovation Scheme, committing ₹7,131 crore to the first cohort. Five approved organisations are focused on research and innovation.
The government has approved 19 fund managers under its ₹1 lakh crore Research, Development and Innovation (RDI) Scheme, marking a major step in expanding funding for technology development in India.
The first cohort includes 14 Alternative Investment Funds (AIFs) and five Focused Research Organisations (FROs). Together, they have received a total commitment of ₹7,131 crore from the Research, Development and Innovation Fund.
The Empowered Group of Secretaries approved the cohort at a meeting on October 8, 2026. The five research organisations include AI & Robotics Technology Park (ARTPARK) at IISc Bengaluru, Centre for Cellular and Molecular Platforms (C-CAMP), Pilani Innovation & Entrepreneurship Development Society (PIEDS) at BITS Pilani, and Society for Innovation & Entrepreneurship (SINE) at IIT Bombay.
The government has not specified individual allocations or confirmed that the full committed amount has been disbursed.
The approved fund managers will channel capital to eligible technology enterprises conducting research and innovation at Technology Readiness Level 4 and above. They are also expected to mobilise private investment alongside government-backed funding.
Launched in November 2025, the RDI Scheme aims to support high-risk, high-impact research and development projects and address funding gaps in emerging and strategic technologies.
The Research, Development and Innovation Fund operates through an independent business unit housed within the Anusandhan National Research Foundation, under the Department of Science and Technology.
The government has also approved five additional technologies for coverage under the fund. Further cohorts of fund managers are expected as the scheme expands.
