The TDB provides financial assistance to Indian industrial concerns and other agencies, attempting development and commercial application of indigenous technology, or adapting imported technology to wider domestic applications.
The objectives are to:
- promote new ideas from small enterprises even at the risk of failures;
- encourage production of competitive consumer products;
- motivate industries and R&D institutions for product innovation;
- develop socially relevant and profitable technologies;
- identify and act in areas requiring strategic interventions;
- Invest in core Technological Strengths to Enable India Industry to Stand-up to the competitive Pressure and Become a global Player.
The idea is that TDB‟s support for technology development and commercialisation should be unique. Besides above:
With its proactive stance, the board:
- Facilitates interaction between industry, scientists, technocrats and specialists;
- Facilitates the creation of new generation of entrepreneurs;
- Assists partnerships with other, similar technology financing bodies;
- Creates new job opportunities.