Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said that effective 1st January, 2023, the National Research Development Corporation (NRDC) will undertake Technology Commercialisation for benefit of Start-Ups.
According to Dr Jitendra Singh, since inception, NRDC has concluded more than 5000 license agreements representing technologies in almost all industry sectors. Further, NRDC has also entered into an MoU with The Agricultural and Processed Food Products Export Development Authority (APEDA) for mentoring and monitoring export oriented Agri-based startups.
NRDC assists the Inter-Ministerial Board (IMB) of DPIIT for technically evaluating startups for their ability to avail benefits extended by Government of India. Till date over 7500 applications from startups have been assessed.
Dr Jitendra Singh said NRDC has also associated with Indian Oil Corporation Limited (IOCL) for implementation of their start-up scheme from identification of start-ups and hand-holding to product launch.
The Technology Development, Validation and Commercialisation Program (TDVC) program is a grant-in-aid scheme for providing financial support to start-ups, incubatees and MSMEs who focus on problem statements of the Indian society and manufacturing industry in the brick & mortar economy.