The Telangana government has set up a Rs. 50-crore Research to Market Fund to support scientists working on market-driven ideas.
While the state government has put Rs. 5 crore in the fund, venture capital and private equity funds would chip in with the remaining amount.
A group of scientists under the Research and Innovation Circle of Hyderabad (RICH) will vet the ideas from scientists and decide on funding.
RICH has been established by the state government to build a network of about 50 research and development institutions in the city.
RICH is to be headed by former ISB Dean Ajit Rangnekar, will maintain a registry of research projects underway in the member institutions.
