Conflict of interest in startup funding panel “unavoidable”, says Technology Development Board secretary
Government defends overlap between TDB investment committee members and companies backed under ₹1 lakh crore RDI Fund
The Technology Development Board (TDB) secretary, Rajesh Pathak, has stated that conflict of interest in selecting expert panels to disburse public funds for technology startups is unavoidable and a matter to be managed. This comes after the government's disclosure in Parliament and media reports revealing that members of an expert panel constituted by the TDB had financial links to companies they adjudicated for public funds.
The TDB, affiliated with the Department of Science and Technology (DST), is one of the agencies allocated to channel money under the Centre's ₹1 lakh crore Research, Development and Innovation (RDI) Fund. The TDB has approved support for 22 projects involving ₹2,192 crore of RDI financing. To manage these conflicts of interest, the TDB has clear guidelines, including members disclosing any financial interest in the companies being evaluated and recusal when their companies are being discussed.
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