IITs, IISc, BITS Pilani Among Institutions Approved Under Centre’s Rs 1 Lakh Crore RDI Scheme
The Centre has approved 19 Second Level Fund Managers under its Rs 1 lakh crore RDI Scheme, with a total commitment of Rs 7,131 crore for the first group. Five research organisations linked to IISc Bengaluru, IIT Madras, IIT Bombay and BITS Pilani will help channel funding to eligible technology enterprises working on research and innovation.
The Centre has approved 19 fund managers under its Rs 1 lakh crore Research, Development and Innovation (RDI) Scheme. The first group includes 14 Alternative Investment Funds (AIFs) and five Focused Research Organisations (FROs), which will help channel funding to eligible technology companies and research projects.
Among the five research organisations are AI & Robotics Technology Park (ARTPARK) at the Indian Institute of Science (IISc), Bengaluru; Centre for Cellular and Molecular Platforms (C-CAMP), Bengaluru; IIT Madras Research Park; Pilani Innovation & Entrepreneurship Development Society (PIEDS) at BITS Pilani; and Society for Innovation & Entrepreneurship (SINE) at IIT Bombay.
The Empowered Group of Secretaries approved the first group at its meeting on October 8, 2026. The government has committed a total of Rs 7,131 crore to the 19 fund managers under this first cohort. This is the overall commitment for the group, not an amount that each organisation will receive equally.
The 14 AIFs include Speciale Invest Growth Fund, YourNest Capital Advisors, Sixth Sense Ventures, Chiratae Ventures, Kalaari Capital Partners India, Celesta India AIF Managers, AdvantEdge Investment Managers, IvyCap Ventures Advisors, Ideaspring Capital Fund, Blume Ventures Investment Manager, TVS Capital Funds, AMA Capital Advisors, Translation Endeavors and Campus.
How the Government Plans to Fund Technology Projects
The RDI Scheme aims to increase private-sector investment in research and development. It is designed to help businesses develop new technologies, improve existing products and turn research into commercially useful solutions.
The Union Cabinet approved the scheme on July 1, 2025, and Prime Minister Narendra Modi launched it on November 3, 2025. The initiative has a total outlay of Rs 1 lakh crore over six years.
The scheme is intended to support technology development in areas important to India’s economic growth and strategic needs. These include artificial intelligence, robotics, biotechnology, quantum technologies, energy transition and other emerging fields.
What Will the 19 Fund Managers Do?
The approved organisations will act as Second Level Fund Managers (SLFMs). Their role is to channel funding from the Research, Development and Innovation Fund to eligible technology enterprises undertaking research, development and innovation.
The scheme focuses on projects at Technology Readiness Level (TRL) 4 and above. In simple terms, this means the support is intended for technologies that have progressed beyond basic research and reached a stage where they can be tested and developed further.
The fund managers are also expected to mobilise private investment equivalent to the contribution from the RDI Fund. This approach is intended to bring more private capital into technology development rather than relying only on government funding.
Why the RDI Scheme Matters for Research
Research projects, particularly those involving advanced technologies, can require substantial funding and several years of development. Startups and businesses may find it difficult to secure investment for projects that carry technical and commercial risks.
The RDI Scheme aims to address this challenge by creating a funding route for eligible technology enterprises. It also seeks to strengthen India’s ability to develop its own technologies and reduce dependence on imported solutions.
The inclusion of research organisations linked to IISc, IITs and BITS Pilani brings established research and innovation bodies into the scheme’s first group of fund managers. The government has said that more fund managers will be considered in subsequent rounds, expanding the scheme’s reach as implementation progresses.
Sahil Behl is an education journalist at Jagran with over a year of experience in journalism. Prior to joining Jagran, he worked as a Sub-Editor in NDTV’s Education department, where he was responsible for writing and editing education-related content as well as managing the department’s social media presence. At Jagran, he covers a wide range of education topics, including board examinations, school updates, admissions, and job notifications, while leveraging his editorial expertise and strong understanding of digital content strategy. Sahil holds a Bachelor’s degree in Business Administration and has also completed an eight-month certification program in Data Science. Passionate about emerging technologies, particularly artificial intelligence, he closely tracks their growing role in journalism and explores how they are transforming shaping the future of the media industry.
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