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.
Textile Commissioner Roop Rashi pointed out that the textile research associations had developed several innovative products. Those that had good industrial partners were able to commercialise the innovations. Funding was critical for innovations to get commercialised and there were avenues such as the TDB that industries and research organisations should look at.
T. Rajkumar, chairman of Confederation of Indian Textile Industry, said Coimbatore was in the forefront in several industrial verticals and was known for innovation and technology development.
According to Ravi Sam, chairman of Southern India Mills’ Association, Coimbatore had two centres of excellence for technical textiles. Several industries here were into indigenisation and invest in technologies.
K. Senthil Ganesh, vice-chairman of Confederation of Indian Industry, Coimbatore, D. Vignesh, president of Southern India Engineering Manufacturers’ Association, and Prakash Vasudevan, Director of South India Textile Research Association, also spoke.
