In News
- Recently, Technology Development Board(TDB)approved financial support to Hyderabad based Manjeera Digital Systems Private Limited (MDS).
Technology Development Board
- About:
- It is a statutory body constituted under the Technology Development Board Act, 1995.
- It functions under the Ministry of Science and Technology.
- Objective:
- To promote the development and commercialization of indigenous technology and adaptation of imported technology for wider application.
- Roles & Functions:
- The Board plays a proactive 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.
- Facilitates interaction between industry, scientists, technocrats and specialists
- Fosters and innovation culture through the contract and cooperative research between industry and institutions
- Provides an interface with financial institutions and commercial banks for leveraging funds.
Source: PIB
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