Technology Development Board
From Wikipedia, the free encyclopedia
Technology Development Board (TDB), is a statutory body established by Government of India under Technology Development Board Act, 1995, to promote development and commercialization of indigenous technology and adaptation of imported technology for much wider application. The board consists of 11 Board members. The Government reconstituted the Board in March 2000. The Board plays a pro-active role by encouraging enterprises to take up technology-oriented products. The board provides equity capital or loans to industrial concerns and financial assistance to research and development institutions. The loans carry a simple interest rate of 5% per annum.[1]
In order to stimulate private sector's investment in R&D, TDB established Global Innovation & Technology Alliance (GITA) as a Section 25 company in a joint venture between Confederation of Indian Industry (CII) and TDB with an equity contribution of 51:49 respectively.[2]
The GITA will assist Department of Science & Technology (DST) in implementing industrial research and development programmes with different countries under bilateral and multilateral science and technology cooperation agreements. In these country-specific programmes, if one industry from India and one industry from another country proposed jointly to do R&D for developing a marketable product, both the governments will provide financial support up to 50% of project cost to their respective industries.
The GITA has been envisaged as an industry-driven body for supporting competitive innovation clusters which in future can be entrusted with administering of Innovation Fund under a PPP model, IP acquisition by the government for non-exclusive licensing for public and social good, sectors of R&D and promotion of innovation culture in centres of excellence.[3]
