Technology development board

Technology development board (TDB) was established in 1996 by the government of India under the Technology Development Board act, 1995. It was constituted to promote the development and commercialization of indigenous technology and to ensure the smooth adaptation of technologies imported for wider application. It consists of 11 board members. TDB encourages Enterprises for taking up Technology oriented products.

 Objectives and functions

• It provides equity capital and loans to industrial concerns along with financial assistance to Institutions involved in the development and commercial application of indigenous technology or in the adaptation of technologies imported from abroad.
• It has the responsibility to facilitate interaction between scientists, technocrats, and specialists.
• It promotes innovation culture through contract and cooperation between industry and research institutions.
• TDB provides an interface with scheduled commercial banks and financial Institutions forever leveraging funds.
• It helps in the emergence of the new generation of entrepreneurs.
• Its objectives include the promotion of innovative ideas from small enterprises even if it has the risk of failure.
• Its target is to invest in core technological strength for enabling Indian industries to compete and become a global player.

 Vision and Mission

• The mission of TDB is to strengthen the technology development and commercialization in selected sectors by supporting the development of technology in industries with short, medium and long-term risk horizon.
• Its priorities include increasing capital productivity through improved technological inputs in basic infrastructure such as transport housing, communication energy etc.
• Providing technological support in export driving areas for quality improvement and value addition of exports.
• Providing technical support to selected small-scale sectors which are dependent on high technology development.