---
title: "Technology Development Board Secretary Defends Funding Panel Financial Ties"
url: https://projectchintan.com/article/tdb-secretary-defends-startup-funding-panel-conflicts-5i66m
publisher: Project Chintan
author: Project Chintan Newsroom
section: Technology
published: 2026-08-07T12:18:29.000Z
modified: 2026-08-07T17:01:25.474Z
language: en-IN
---

# Technology Development Board Secretary Defends Funding Panel Financial Ties

Rajesh Pathak characterizes financial links between investment committee members and funded startups as inevitable within the innovation sector. The agency has approved over 2,000 crore rupees in financing despite parliamentary disclosures revealing specific overlapping interests.

## Key takeaways

- TDB Secretary Rajesh Pathak argues that financial links between experts and startups are unavoidable in the current innovation ecosystem.
- Parliamentary disclosures revealed specific financial overlaps involving TDB Investment Committee members and funded firms like Dhruva Space and Ather Energy.
- Funding approval requires a super-majority vote of eight out of eleven members to mitigate influence from interested parties.
- The TDB has already authorized 2,192 crore rupees for 22 projects through the 1 lakh crore rupee RDI Fund as of July 2026.

## Why It Matters

The integrity of the central government’s 1 lakh crore rupee Research, Development and Innovation (RDI) Fund is under scrutiny. With the Technology Development Board (TDB) acting as a primary distributor of these assets, the revelation that decision-makers hold financial stakes in recipient firms raises questions about the impartial allocation of public capital toward emerging technologies.

## Background

Operating under the Department of Science and Technology, the TDB is tasked with bridging capital gaps for high-risk ventures in deep tech, AI, and biotechnology. Specifically, the RDI Fund targets projects at Technology Readiness Level 4 or higher, where concepts have moved from the lab toward commercial viability. Rather than direct grants, the TDB utilizes low-interest loans and equity instruments via designated fund managers.

## Key Facts

- As of July 2026, the TDB has cleared 2192 crore rupees in RDI financing across 22 distinct projects.
- Secretary Rajesh Pathak stated that conflict of interest is a condition to be managed rather than entirely eliminated because industry experts naturally possess ties to the startup ecosystem.
- Current protocols require voting members to recuse themselves and leave the room when a firm they have interests in is under review.
- The TDB utilizes a super-majority rule; if one member of the 11-person panel recuses, at least eight remaining members must approve the funding.
- Direct promoters or board directors are barred from receiving funds, but indirect stakes held through investment funds are currently permitted.
- Parliamentary disclosures linked Chairman Dr. Saurabh Srivastava and members like K.R.S. Jamwal and Sanjay Nayak to various funded entities including Dhruva Space, Noccarc Robotics, and Tejas Networks.

## What Happens Next

While the TDB and the Biotechnology Industry Research Assistance Council (BIRAC) were the initial fund managers, the government is currently selecting additional entities to distribute the remaining RDI Fund capital. The focus remains on high-risk sectors where private investment typically lags, requiring the panel to navigate the thin line between expert knowledge and financial neutrality.

Source: The Hindu — Sci-Tech

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Canonical: https://projectchintan.com/article/tdb-secretary-defends-startup-funding-panel-conflicts-5i66m
Reported from: The Hindu — Sci-Tech