A $12B R&D fund was meant to turbocharge startup funding. It did the opposite

India's RDI fund of Rs. 1 lakh crore was launched to give patient capital to deep-tech startups. 

A year later the cash, is barely flowing. Out of 162 alternate investment funds, only 2 government intermediaries have approved letters, and most of their startups are still waiting. Fund managers say that they've experienced radio silence after applications, allegations of conflict of interests, and return expectations that don't suit R&D focused companies. Meanwhile, overall startup funding is also down.

So, why did the fund meant to speed things up end up slowing everything down?

Tune in.

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