The Center’s Technology Development Board will launch a ₹1,000 crore seed fund

The Technology Development Board (TDB), a statutory body under the Department of Science and Technology, Government of India, is set to launch a ₹1,000 crore seed fund under a public partnership model -private.

The fund will be launched in two phases and will be operational within a month. In the first phase, a corpus of ₹400 crore will be set up, of which ₹200 crore will be contributed by a limited liability company which has not yet been named. In the later phase, TDB will partner with more companies to raise money for the fund and invest the same amount of money in tandem with the companies.

Rajesh Pathak, Secretary, TDB said Activity area, “The objective of the fund is to invest in startups from different sectors. The new fund will also invest in early-stage startups rather than those that have reached the commercialization stage, as it has done in the past.

Pathak added that it is advantageous for companies to invest in startups in partnership with TDB, as the TDB committee will carry out the comprehensive evaluation and review of all startups that apply for the fund.

The fund is sector independent and seeks to invest in startups that aim to solve a problem with sound technical solutions and have a broader use case. The TDB will guide early-stage startups to improve their marketing capabilities and provide technical training and skills development.

In September 1996, the TDB, under the Technology Development Board Act 1995, was established as a statutory body to promote the development and commercialization of indigenous technology and the adaptation of imported technology for wider application.

Published on

June 08, 2022

Ruby A. Robillard