Ather taps govt’s ₹1-trillion innovation fund to counter rivals’ incentive advantage

Under the programme, the government will select second-tier fund managers (SLFM) who will provide the money in the form of debt or equity, depending on the applicant’s need. The fund will finance 50% of the approved project cost and the company will finance the rest. So far, the government has appointed two fund managers: the Technology Development Board (TDB) and the Biotechnology Industry Research Assistance Council (BIRAC).