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TDB secretary says conflict of interest in startup panel ‘unavoidable’
Technology Development Board (TDB) secretary Rajesh Pathak said conflict of interest in selecting startup funding panels is 'unavoidable' and must be 'managed', after a July 30 parliamentary disclosure revealed that members of…
The Story in Brief
Technology Development Board (TDB) secretary Rajesh Pathak said conflict of interest in selecting startup funding panels is 'unavoidable' and must be 'managed', after a July 30 parliamentary disclosure revealed that members of a TDB expert panel had financial links to companies they approved for public funds. The government disclosed that companies including Noccarc Robotics, EndureAir Systems, and Ather Energy had received funding from organisations represented on the TDB's Investment Committee or Governing Board.
The TDB has approved support for 22 projects involving Rs 2,192 crore under the Centre's Rs 1 lakh crore Research, Development and Innovation Fund. The Ministry of Science and Technology called media reports 'misleading' and said a 'robust' conflict of interest policy exists, including mandatory disclosure and recusal. Pathak said members must leave the room when their companies are discussed, and funding decisions require a super-majority of at least eight of 11 votes.
The Indian Opinion
The TDB secretary calls conflict of interest 'unavoidable' while the ministry calls reports 'misleading'. Both cannot be right. The public needs clarity, not defences. If independent assessments in France validated the selections, disclose those assessment criteria. If recusal rules exist, name the cases where they were invoked. The real test is simple: will the government publish the minutes of Investment Committee meetings, including which members recused themselves and which did not, before the next tranche of Rs 2,192 crore is approved?
Sources (2): thehindu.com, thehansindia.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
