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πŸ“° News ⏱ 2 min
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Key Points

5 points
1

Fund name: Research, Development and Innovation Fund.

2

Goal: faster money release for eligible companies.

3

Private sector provides 50% of the investment.

4

Second-Level Fund Managers will choose which companies get support.

5

Plans to expand the fund to more technology areas.

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Summary

The fund checks carefully that money is spent safely.

It aims to give money to scientists faster so they can start work quickly.

Private companies also put half of the money into the fund.

The fund will cover new areas like smart computers and other important technologies.

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New Words to Learn

14 words
disbursal
giving out money
due diligence
careful checking
private equity
money from private companies
transparent
open and clear
sectoral
relating to different parts of the economy
synergies
working together to help each other
technology readiness level
how ready a new technology is to be used
digital library
online collection of videos and stories
conclave
big meeting or gathering
stakeholder
anyone who cares about the project
framework
set of rules
scrutiny
close checking
collaboration
working together
initiative
new plan or project
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