TDB spends 789 cr to indigenous technology

Kochi, Jun 7: The Technology Development Board (TDB), functioning under the union Department of Science and Technology, has funded more than 150 enterprises to the tune of Rs 789 crore to commercialise indigenous technology, TDB Project Coordinator Shashank Sinha said today.

Addressing a workshop on 'Venture Funding in Technology and Innovation', organised by the Kerala chapter of CII here, Mr Sinha said health and medical (Rs 196 crore), engineering (Rs 102 crore), road transport (Rs 81 crore) and air transport (Rs 67 crore) were among the key areas where the TDB had funded domestic enterprises to successfully commercialise indigenous technology.

The projects backed by the Board ranged from the Reva battery-operated car to the first prototype of the Light Combat Aircraft (LCA) 'Saras', being developed by the National Aerospace Laboratory, he said.

The TDB was set up by the Centre in 1996 and gets funds from the R&D cess levied on import of technology.

The Board's funding included equity participation, loans, venture funding and grants-in-aid for projects of national interest. Of the Rs 789 crore allocated till March 31, 2007, 68 per cent was by way of loans, 19.7 per cent venture funding, 8.5 per cent grants and 3.8 per cent equity, Mr Sinha said.

More than 150 enterprises spread over 16 states had been funded while more than Rs 2100 crore had been leveraged through external funding, he said.

The Board's loans carried a five per cent simple interest and funding generally started within three to four months of the receipt of a proposal and its vetting.

Commercial enterprises (excluding sole entrepreneurs), cooperatives and other agencies could seek money from the Board for the development and application of technology-based products and services, he said.

Earlier, in his welcome address, CII, Kerala, Vice-Chairman M S A Kumar said that in a rapidly changing global business scenario, technology was the key to achieve competitiveness.

Alongwith quality, energy and environment, technology was a thrust area for the CII, he said.

UNI