TDB backs 22 projects under Rs 1 lakh Cr RDI Fund, says industrialist Sudhir Mehta
Executive Take
Deeptech founders now have access to 15-year loans at 3-4% interest with no collateral, a funding structure that didn't exist in India before. Expect faster scaling in space, semiconductors and defense-adjacent tech, but watch the IP-must-stay-in-India clause closely.
Executive Summary
India's Technology Development Board has approved its first cohort of 22 deeptech and startup projects under the Rs 1 lakh crore RDI Fund, per TDB Investment Committee member Sudhir Mehta. The projects involve Rs 4,744 crore in R&D and Rs 2,192 crore in RDI Fund financing, spanning reusable launch vehicles, satellites, quantum communication, chip design, drones and batteries across seven Indian cities.
Why It Matters
GCC and technology leaders should track this because it signals state-backed capital is now chasing indigenous deeptech instead of just services exports. Startup founders in hardware and frontier tech gain a rare low-cost, long-tenure financing option.