DRDO Establishes Special Financial Fund Programme

Fostering ‘Make in India’ further in the defense space, Defence Research and Development Organisation (DRDO)  with MoD (Ministry of Defence) has established a special financial fund programme named Technology Development Fund (TDF). It is a programme of MoD (Ministry of Defence) executed by DRDO meeting the requirements of Tri-Services, Defence Production and DRDO. The eligibility of this unique programme has been kept for public limited company, private limited company, partnership firms, limited liability partnership, one person company, sole proprietorship registered as per applicable.
Funding Support
I. The funding will be through provision of grants to industry.
II. The project cost up to INR 10 Cr be considered for funding subject to maximum of 90% of the total project cost in general.
III. Up to 100% funding may be considered on case to case basis
IV. Industry may work in collaboration with academia or research institutions
V. The work involvement of academia cannot exceed 40%of the total projects cost
VI. The funding is linked with Milestones
VII. Fund release : Either advance against the bank guarantee of the same amount as collateral
or reimbursement basis on completion of Milestone
VIII. Subsequent instalments will be released on successful completion of Milestone