Conflict of interest in startup funding panel “unavoidable”, says Technology Development Board secretary
The Technology Development Board (TDB) secretary has defended the presence of potential conflicts of interest in expert panels that disburse public startup funds as 'unavoidable.' This follows reports that panel members have financial ties to companies that were subsequently approved for government funding.
Why it matters
Raises significant questions about transparency and governance in the distribution of large-scale public innovation funds.
Conflict of interest in selecting expert panels to disburse public funds for technology startups is “unavoidable” and a matter “to be managed,” Technology Development Board (TDB) secretary Rajesh Pathak said on Friday.
His remarks came after the government disclosure in Parliament on July 30, followed by media reports, that members of an expert panel constituted by the TDB had financial links to companies that they adjudicated as eligible for public funds.
The TDB, affiliated to the Department of Science and Technology (DST), is among the agencies selected to channel money under the Centre’s ₹1 lakh crore Research, Development and Innovation (RDI) Fund. As of July, the TDB has approved support for 22 projects—a company can be part of multiple projects—involving ₹2,192 crore of RDI financing.
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