About Technology Development Fund Scheme:
- It has been established to promote self-reliance in Defence Technology as a part of the ‘Make in India’ initiative.
- Objective: It encourages the participation of public/private industries, especially MSMEs and startups, so as to create an ecosystem for enhancing cutting-edge technology capability in the defence sector.
- Project Duration: The maximum development period will be four years.
- Nodal Ministry: Ministry of Defence.
- It is executed by DRDO to promote self-reliance in cutting-edge defence and aerospace technologies.
- Eligibility criteria:
- Entity Type:
- A public limited company, a private limited company, a partnership firm, a limited liability partnership, a one-person company, or a sole proprietorship registered as per applicable Indian laws registered in India especially MSMEs and Startups.
- The industry must be owned and controlled by a resident Indian citizen.
- An entity with excess of 49 percent foreign investment not be eligible.
- Start up:
- Startups must be recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) as per Government of India (GOI) guidelines.
- Startups incorporated for less than three years from date of submission of application will be considered as nascent startups.
- A nascent startup should be incubated at one of the Central/State government assisted incubators.
- Startups should not have received any grants/grants-in-aid by any government scheme for a similar technology.
- The startup must be owned and controlled by a Resident Indian citizen with a shareholding of at least 51%.
