India RDI Fund Backs 19 Managers for Deeptech Startups
The central government-backed fund has approved 19 second-level fund managers with a total commitment of 7131 crore rupees.
According to inc42.com, India’s central government-backed Research, Development and Innovation (RDI) Fund has approved its first cohort of 19 second-level fund managers with a total capital commitment of 7,131 crore rupees. Launched to address the funding gap faced by companies developing high-risk and high-impact technologies, the initiative aims to strengthen the domestic deeptech startup ecosystem.
The Empowered Group of Secretaries approved 14 alternative investment funds and five focused research organisations for this deployment phase. The broader RDI Scheme carries an overall financial outlay of 1 lakh crore rupees, targeting advanced technological capabilities across the country.
Based on reporting by inc42.com.
