Working Group

The CDC team has been engaging with various stakeholders in the innovation and development ecosystem. We have been closely following developments such as the creation of the National Innovation Council, the National Skill Development Council and the India Inclusive Innovation Fund.

In 2012, a working group comprising of key leaders from the IIT Alumni community studied the issues impacting the success of the development sector where highly funded organizations such as the Bill and Melinda Gates Foundation have had less than expected impact. The team interacted with various government departments, multi-lateral agencies, existing schemes of DST, etc. Team members also studied the framework for development sector revitalization in other Asian countries, mainly China, Myanmar, Sri Lanka, Thailand and Cambodia in addition to African and Latin American countries. During the course of these interactions, it clearly emerged that there was a compelling need for the creation of CDC kind of innovation focused development fund in India.

Subsequently, the team carried out detailed interactions with SEBI, the concerned administrative ministries, the Ministry of Finance, various multi-lateral development agencies, etc to evolve the framework for the creation of an innovation supporting nodal development fund focused on providing funded and non-funded products to ventures that were using technology innovatively to improve the effectiveness and reduce the cost of service delivery.