What happened (conflict-of-interest disclosures in start-up funding panels)

The Technology Development Board (TDB) secretary under the Department of Science and Technology (DST) stated in Parliament that conflicts of interest in expert panels that evaluate technology start-ups for public funding are “unavoidable,” but can be managed through guidelines. The remarks followed parliamentary disclosures and media reporting that some expert panel members had financial links to companies they assessed as eligible for funding.

DST and TDB disclosures described the role of TDB in supporting technology innovation projects under the R&D Innovation (RDI) Fund. DST disclosures also stated that companies can participate in more than one project funded through TDB.

In response to Rajya Sabha questions, DST identified the investment committee chaired by Dr. Saurabh Srivastava and listed individuals linked to various companies as investment committee members. DST disclosures also stated that the TDB secretary serves as member-secretary of the investment committee without voting rights.

DST disclosures further stated that some companies approved for TDB funding had received funding from organizations represented on the investment committee or on the TDB governing board.

Background and earlier position (how TDB frames the conflict issue)

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