Technology Development Board (TDB) (India)
The Government of India constituted the Technology Development Board (TDB) in September 1996, under the Technology Development Board Act, 1995, as a statutory body, to promote development and commercialization of indigenous technology and adaptation of imported technology for wider application. The board consists of 11 Board members.
The TDB is the first organization of its kind within the government framework with the sole objective of commercializing the fruit of indigenous research. The Board plays a pro-active role by encouraging enterprises to take up technology oriented products.
Provides equity capital or loans to industrial concerns and financial assistance to research and development institutions. The loan carries a simple interest rate of 5% per annum. With its pro-active stance the Board:
- Facilitates interaction between industry, scientists, technocrats and specialists
- Fosters and innovation culture through contract and cooperative research between industry and institutions
- Provides an interface with financial institutions and commercial banks for leveraging funds
- Facilitates the creation of new generation of entrepreneurs
- Assists partnerships with other, similar technology financing bodies
- Provides vistas for venturing into hi-tech areas
- Creates new job opportunities.
The Fund has been receiving grants from the Government of India out of the cess collections from the industrial concerns under the provisions of the Research and Development Cess Act, 1986, as amended in 1995. Any income from investment of the amount of the Fund and the recoveries made of the amounts disbursed from the Fund are credited for building up the Fund. The finance Act, 1999, enabled full deductions to the donations made to the fund for income tax purposes.
Vision and Mission
TDB’s goal is to make the weak zone of technology development and commercialization strong in selected sector by supporting technology development in the industry with short, medium and long term risk horizon. Technology priorities for India is:
- Raising capital productivity by modernising and reducing costs by constant technological inputs to the large base of basic infrastructure like energy, transport, housing, communication etc. though in the short term, some may have to resort to large scale imports of capital goods and know-how;
- Technology support in areas which are currently driving export to enhance value-addition and to improve the quality, quantity and value of exports;
- Technology support in selected small scale sector whose future in many ways depends on high technology development; and
- Work on selected area of frontier market-oriented technologies at international scale and in which India can make an impact and attain a globally competitive edge.
The pro-active role of TDB is in all the above categories in order that the beneficial effects can accrue to the economy and society as a whole, in a sustainable manner.See more