No conflict of interest in RDI Fund, says government
The Indian government has defended the Research, Development and Innovation (RDI) Fund against allegations of conflict of interest regarding its selection committee. Officials stated that strict disclosure and recusal protocols were followed to ensure transparency in funding deep-tech projects.
Why it matters
Public trust in government-led innovation funding is critical for the success of national deep-tech initiatives and the growth of the domestic startup ecosystem.
NEW DELHI: The government on Friday said the Research, Development and Innovation (RDI) Fund is being implemented through a robust institutional framework with "stringent conflict-of-interest safeguards" in place, highlighting that it is designed "not to exclude domain expertise but to regulate it through clearly defined conflict-of-interest provisions".Rebutting a media report that 15 of the 22 entities that got public funds to boost India's deep-tech ambitions have investment links to seven members of the selection committee, raising questions of conflict of interest and propriety, Technology Development Board (TDB) secretary Rajesh Kumar Pathak said the mere existence of a professional or investment association with an innovation ecosystem entity does not constitute a violation of conflict-of-interest norms."What the framework requires is full disclosure of such interests and complete recusal from the evaluation and decision-making process relating to the proposal concerned...
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