ANRF Paves Way for Private-Led RDI Revolution with New Funding Framework

The Anusandhan National Research Foundation (ANRF) marked a pivotal advancement by approving the establishment of a special purpose fund (SPF). This fund forms part of an ambitious government initiative to foster a Research, Development, and Innovation (RDI) ecosystem powered by the private sector in emerging domains.

The recently established guidelines and governance frameworks were crafted by the Department of Science and Technology (DST) after engaging with various stakeholders. These frameworks aim to ensure efficient operation and governance of the RDI scheme, encouraging private sector involvement for sustainable, innovation-driven growth.

As the nodal ministry of this historic initiative, the DST emphasizes that the RDI scheme will rely on a layered funding approach. ANRF will oversee a Rs 1 lakh crore corpus, managed by second-tier fund managers such as Alternative Investment Funds (AIFs) and Development Finance Institutions (DFIs), aligning investments with expert recommendations.

(With inputs from agencies.)