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
Technology Development Board (TDB) secretary Rajesh Pathak stated on Friday that selecting expert panels to distribute public funds for technology startups inevitably involves conflicts of interest, which must be managed. The TDB, under the Department of Science and Technology, is responsible for allocating funds from the Centre's ₹1 lakh crore Research, Development and Innovation (RDI) Fund. As of July, the TDB had approved support for 22 projects with a total of ₹2,192 crore in RDI financing.
The Investment Committee of the TDB includes members with financial ties to companies that they evaluate for funding. These companies have received funding from organizations represented on the Investment Committee or the Governing Board. The TDB secretary emphasized that while conflicts of interest are unavoidable, they can be managed through clear guidelines.
These guidelines include members disclosing any financial interests and recusing themselves when their companies are being evaluated. The RDI Fund aims to increase private-sector investment in research and development, supporting startups and high-risk technology companies in sectors like deep technology, biotechnology, artificial intelligence, and energy transition.
Written by urgent.news from The Hindu - Sci-Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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