New Delhi, Oct. 12 -- The government's Research, Development and Innovation Fund (RDIF) has approved its first cohort of 19 second-level fund managers with a total commitment of Rs 7,131 crore, marking a key step towards mobilising private investment in research and development and emerging technologies.

The Empowered Group of Secretaries (EGoS), at its meeting held on October 8, approved 14 Alternative Investment Funds (AIFs) and five Focused Research Organisations (FROs) under the Rs 1 lakh crore RDIF initiative, according to a press release by the Ministry of Science and Technology on Monday.

The approved fund managers will channel RDIF capital to eligible technology enterprises undertaking research, development and innovation activi...