The Ministry of Science & Technology announced on 12 October 2026 that the Empowered Group of Secretaries has approved the first cohort of 19 Second Level Fund Managers (SLFMs) for the ₹1 lakh crore Research, Development and Innovation Fund (RDIF). This group consists of 14 Alternative Investment Funds and 5 Focused Research Organisations, with a total commitment of ₹7,131 crore. These managers will provide capital to eligible technology enterprises working at Technology Readiness Level 4 and above. The release does not say when this specific funding takes effect.
Key points
- ₹7,131 crore committed to the first cohort of 19 fund managers
- Cohort includes 14 Alternative Investment Funds and 5 Focused Research Organisations
- Funds target technology enterprises at Technology Readiness Level (TRL) 4 and above
- Fund managers are expected to mobilise private capital equal to the RDIF contribution
- Five additional technologies were approved for coverage under the RDI Fund
When it applies
- Meeting of the Empowered Group of Secretaries (EGoS)
- Launch of the Research, Development and Innovation (RDI) Scheme
- Launch of the first call for applications from prospective SLFMs
Who it affects
- Eligible Technology Enterprises (ETEs)