TDB invested in May 2013.
The Government of India constituted the Technology Development Board (TDB) in September 1996, as per the provisions of the Technology Development Board Act, 1995. The Act enables creation of a Fund for Technology Development and Application to be administered by TDB. The Fund receives grants from the Government of India out of the Cess collected by the Government from the industrial concerns under the provisions of the Research and Development Cess Act, 1986, as amended in 1995.
TDB has partnered with venture capital funds within its scope with a view to leverage investment in technology oriented venture and supported R&D initiatives by the incubator though it’s Seed Support Fund. The initiative of TDB has given confidence to Venture Capitalist/ Private equity funds to come up in big way to support the technology based projects with a pronounced emphasis on sectors which are growth drivers of Indian economy. The fund targeted to support, technology oriented ventures in various sectors such as IT / ITES, Biotechnology, Health, Telecommunication, Nano-technology etc. to widen its scope with a view to leverage investment in innovative projects.