India's RDIF commits ₹7,131 cr to 19 fund managers
Business
Big news for India's innovation scene: the Research, Development and Innovation Fund (RDIF) just committed ₹7,131 crore to 19 fund managers, including 14 Alternative Investment Funds and five Focused Research Organizations.
The aim? To help homegrown tech companies level up their ideas and bring more innovation to the table.
India's ₹1L cr scheme requires matching
This move is part of a much larger ₹1 lakh crore scheme launched last year to close funding gaps in India's research ecosystem.
By requiring private investors to match funds, RDIF is making sure more money actually reaches promising projects, especially those that could reduce our reliance on imported tech.
Applications for fund managers opened in January, and there are plans to bring even more partners on board soon.