The Technology Development Board (TDB) Act, 1995 (Act No. 44 of 1995) was enacted to foster indigenous technological innovation and commercialization of homegrown technologies in India. Established during India's economic liberalization era, the Act aimed to bridge the gap between research and industry by providing financial support to enterprises and institutions developing or adapting technologies for domestic applications. The TDB operates under the Department of Science and Technology, Government of India.

Post-Liberalization Focus: Enacted in 1995, the Act aligned with India’s push for self-reliance in technology post-economic reforms (1991).
Predecessor Funds: Integrated the Venture Capital Fund from the R&D Cess Act, 1986, streamlining funding mechanisms.
Global Trends: Inspired by models like the U.S. Small Business Innovation Research (SBIR) program, emphasizing public-private R&D partnerships.
Bureaucratic Delays: Complex approval processes sometimes hindered timely disbursement.
Risk Aversion: Early-stage tech projects faced funding biases due to commercial viability concerns.
The TDB Act, 1995, has been instrumental in positioning India as a hub for technology-driven development. By financing high-risk innovations and fostering public-private collaborations, it has catalyzed advancements in sectors like healthcare, energy, and agriculture. Future success hinges on simplifying processes and expanding funding avenues to keep pace with global tech revolutions like AI and green tech.