The Technology Development Board (TDB) under the Department of Science and Technology will start extending funds for agricultural field trials and clinical trials for new technologies, according to Rajesh Kumar Pathak, Secretary of TDB.
At a meeting on “Financial Assistance from GoI for Technology Development” here on Saturday, he said its board had decided that it would give funding for agricultural field trials and clinical trials of technologies developed by any organisation or industry. A committee had been formed to decide on the modalities for the funding.
Further, the TDB would enhance capex support start-ups. It would extend upto 70% of the capital expenditure (capex) for start-ups that wanted to commercialise an innovation. While 50% of the capex would be given as loan at low interest rate, another 20% would be given as convertible equity. So far, the TDB supported start-ups that wanted to commercialise new technologies with 50% of the capex.
In a move to promote domestic production, the Ministry of Health and Department of Science and Technology had formed a task force that would recommend a set of chemicals that India would manufacture. These chemicals were currently imported. The committee had met a few times and would come out with the list soon, he said.
On the new Science Technology and Innovation policy, he said the government was likely to come out with it soon.
