With an outlay of ₹1 lakh crore, the scheme encourages private sector participation in research and innovation, particularly in sunrise and other relevant sectors, including economic security, strategic purpose, self-reliance, etc.
Key Highlights of the Scheme
- Aim: Provide long-term financing or refinancing with long tenors at low/nil interest rates to spur private investments.
- Key Objectives
- Finance transformative projects at higher levels of Technology Readiness Levels (TRL).
- Support acquisition of critical and strategic technologies.
- Facilitate setting up of a Deep-Tech Fund of Funds.
- Two-Tiered Funding Mechanism
- Special Purpose Fund (SPF): Established within the Anusandhan National Research Foundation (ANRF), acting as the custodian of funds.
- Established under the ANRF 2023 Act, ANRF aims to seed, grow and promote research and development (R&D).
- Science and Engineering Research Board (SERB) has been subsumed into ANRF.
- Second Level Fund Managers: Funds from SPF are allocated here, in the form of long-term concessional loans or equity funding (for startups).
- Special Purpose Fund (SPF): Established within the Anusandhan National Research Foundation (ANRF), acting as the custodian of funds.
- Strategic Direction: Provided by the Governing Board of the ANRF, chaired by the Prime Minister.
- Nodal Department: Department of Science and Technology.
About Sunrise Sectors
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