Research, Development and Innovation (RDI) Fund

Research, Development and Innovation (RDI) Fund is a government fund in India. A ₹1 lakh crore Government of India fund, held by ANRF, that finances private-sector research and deep-tech projects through Second Level Fund Managers (so far TDB and BIRAC): mainly low-interest long-term loans and, for startups, equity. It covers at most 50% of a project and gives no grants; companies apply to a fund manager, not to ANRF.

What it offers

• “Low interest long-term loans, typically unsecured, for eligible R&D and deep-tech projects.” — rdifund.anrf.gov.in
• “Equity financing, particularly for startups and early-stage deep-tech ventures.” — rdifund.anrf.gov.in
• “In the case of loans, RDIF support is limited to 50% of the project cost, while in the case of equity or equity-linked instruments, it is limited to 50% of the value of each funding round.” — pib.gov.in
• “Dr. Jitendra Singh informed that the RDI Fund has a total corpus of ₹1 lakh crore and offers financing at concessional interest rates of around 2–4 per cent, with long tenures of up to 15 years, including moratorium provisions.” — pib.gov.in
• “The scheme does not provide: Grants; Short-term loans, as these are expected to be met through commercial financing.” — rdifund.anrf.gov.in

Who can apply

• “As per the RDIF Guidelines, the Second Level Fund Managers (SLFMs) shall utilise the RDIF capital for supporting projects undertaken by eligible technology entities at Technology Readiness Level (TRL) 4 or above.” — pib.gov.in
• “During FY 2026, the Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC) were approved as Second Level Fund Managers (SLFMs) under the Focused Research Organisations (FRO) category.” — pib.gov.in
• “Implementation will be carried out through 2nd-Level Fund Managers, which may include Alternative Investment Funds (AIFs), Development Finance Institutions (DFIs), Non-Banking Finance Companies (NBFCs), and Focused Research Organizations (FROs).” — rdifund.anrf.gov.in
• “RDIF capital may only be used by SLFMs to exclusively fund RDI-intensive technologies in RDIF Priority Sectors.” — rdifund.anrf.gov.in

How to apply

Apply or read the rules on the official site.

About this listing

TrustList compiled this listing from Research, Development and Innovation (RDI) Fund's official pages in September 2026. The quotes above are its own words. Amounts, deadlines and eligibility rules change, so check the official site before you rely on them.