India · Updated 13 Oct, 11:31 am IST
Government picks 19 managers for first Rs 7,131 crore RDI fund cohort
Why it matters for readers: It shows the government is funding research and startups to boost deep technology development in India.
- Nineteen fund managers and focused research organisations were selected for the first cohort of the RDI scheme with commitments totalling Rs 7,131 crore.1
- The selected cohort consists of 14 alternative investment funds (AIFs) and five focused research organisations (FROs).1
- Selected AIFs include Chiratae Ventures, Blume Ventures, Kalaari Capital, Speciale Invest and YourNest Capital among others.1
- The five FROs named are ARTPARK at IISc Bengaluru, C-CAMP Bengaluru, IIT Madras Research Park, PIEDS at BITS Pilani and SINE at IIT Bombay.1
- The government said the selection focused on applicants' capabilities and deeptech expertise, after a process that considered more than 160 venture firms that applied.1
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