India, Aug. 16 -- For India's deeptech sector, the government's deeptech-focused Rs.1 Lakh Cr Research, Development and Innovation (RDI) fund was supposed to be a game changer. But ironically, instead of becoming a watershed moment for a patient-capital-starved sector, the fund's first major allocation has raised several eyebrows over alleged links between its beneficiaries and members of its investment committee (IC).

The debate follows an Indian Express report that found 15 of the 22 companies that received Rs.2,192 Cr in the first round had investment links with seven members of the 12-member IC.

These 15 companies, including Tejas Networks, Ather Energy, Agnikul Cosmos, Dhruva Space and BigEndian Semiconductors, accounted for more t...