Government sets January 12 for RDI fund portal launch and extends deadline

The Department of Science and Technology (DST) will opne the online application portal for the Research, Development, and Innovation (RDI) Fund on 12 January 2026. This phase specifically targets second-level fund managers (SLFMs) who will help distribute the Rs 1 trillion corpus.

Also in response to high interest from financial entities, the government has extended the final submission deadline to 31 January 2026.

Updated timelines and portal launch

The Anusandhan National Research Foundations (ANRF), which serves as the custodian of the fund, revised its implementation schedule to accomodate technical queries from potential applicants. Detailed implementation guidelines and a comprehensive list of answers to stakeholder questions were made available on the official website on January 7.

The portal at rdifund.anrf.gov.in will serve as the primary platform for all submissions. Entities interested in managing these funds now have until 5:00 PM IST on January 31 to complete their digital filings.

Policy Changes for Startups

In a related development, the government recently removed the mandatory three-year existence requirement for deep-tech startups. Previously, firms needed three years of operational history to qualify for certain types of financial assistance. This change allows newly registered ventures with mature prototypes (TRL-4) to seek support immediately once the SLFMs begin accepting project proposals in February.

Eligibility for fund managers

The RDI Fund does not invest directly in individual companies or startups. Instead, it operates through a tiered structure where the government channels capital to SLFMs. The following entities are eligible to apply:

• Alternative Investment Funds (AIFs): Both existing funds and those yet to achieve their first close, provided they are registered with SEBI.

• Development Finance Institutions (DFIs): National or regional financial bodies.

• Non-Banking Financial Companies (NBFCs): Established firms with plans to set up dedicated RDI-focused vehicles.

• Focused Research Organisations (FROs): This includes entities like the Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC).

The government expects to finalise approvals for TDB and BIRAC by the end of January. These agencies are projected to begin processing applications from startups and private industries in early February 2026.

How to submit an application

Starting January 12, interested entities must apply through the rdifund.anrf.gov.in management portal. The process involves two distinct digital submissions:

• Cover 1 (Quality): Supporting documents regarding experience, team credentials, and investment thesis.

• Cover 2 (Cost): Financial undertakings and cost-related criteria.

Entities such as TDB and BIRAC are currently undergoing a separate nomination process and expect to begin accepting project proposals from private industries in February 2026.

The government has clarified that individual startups and private firms should not contact the DST directly for funding. These players must wait for the approved SLFMs to open their own application windows following the January selection phase.