Funding is the action of providing capital to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Here we present to you top Funding agencies which can help you to grow your business in any way

 What is the meaning of a funding agency?

A Funding Agency is an external organization, public or private, which undertakes a contractual agreement with the University to sponsor research or entrepreneurial activity. The funding agency often dictates how its funds may be used, what deliverables are expected, and what reports are required. There are many functions that take place in a business and to run the operations smoothly, funding is very much required. Shortage of funding can be a significant reason for the business to decline and for the long-term running of the business, it is essential to ensure that the required funds are there at all times.

Each business activity needs funds such as growing team size, new projects, new sales drive, and product promotions. For different kinds of business, there are different funding options that suit the business type.

Top Funding Agencies In India 

  1. Atomic Energy Regulatory Board (AERB)

The Atomic Energy Regulatory Board was constituted on November 15, 1983 by the President of India by exercising the powers conferred by the Atomic Energy Act, 1962 (60 KB) to carry out certain regulatory and safety functions under the Act. The Atomic Energy Regulatory Board (AERB) has the order to enforce rules and regulations promulgated under the Atomic Energy Act, 1962 for securing radiological safety in the country.

2. Board of Research in Nuclear Sciences (BRNS)

  Board of Research in Nuclear Sciences (BRNS) supports extramural research and development activities in nuclear and allied sciences, engineering, and technology. The major activities of BRNS are: to identify and fund R & D projects, to provide financial support to conduct symposia and conferences on topics of relevance to DAE programmes, recruitment under the Krishnan Research Associateship (KSKRA ) scheme, to award fellowships to pursue doctoral programs, and research grants to young scientists, to establish of chairs in universities and other institutions of higher learning, to create infrastructure facilities for advanced research, to identify /create and support centers of excellence, etc. 

3. Council of Scientific & Industrial Research (CSIR)

CSIR was established by the Government of India in September 1942 as an autonomous body that has emerged as the largest research and development organization in India. The research and development activities of CSIR include aerospace engineering, structural engineering, ocean sciences, life sciences, metallurgy, chemicals, mining, food, petroleum, leather, and environmental science.

4. Defence Research & Development Organization (DRDO)

DRDO was formed in 1958 from the amalgamation of the then already functioning Technical Development Establishment (TDEs) of the Indian Army and the Directorate of Technical Development & Production (DTDP) with the Defence Science Organization (DSO).  DRDO’s pursuit of self-reliance and successful indigenous development and production of strategic systems and platforms such as Agni and Prithvi series of missiles; light combat aircraft, Tejas; multi-barrel rocket launcher, Pinaka; air defence system, Akash; a wide range of radars and electronic warfare systems; etc., have given quantum jump to India’s military might, generating effective deterrence and providing crucial leverage.

5. Department of Atomic Energy

The Department of Atomic Energy (DAE) came into being on August 3, 1954 under the direct charge of the Prime Minister through a Presidential Order. According to the Resolution constituting the AEC, the Secretary to the Government of India in the Department of Atomic Energy is ex-officio Chairman of the Atomic Energy Commission.  DAE has been engaged in the development of nuclear power technology, applications of radiation technologies in the fields of agriculture, medicine, industry and basic research. DAE comprises five research centers, three industrial organizations, five public sector undertakings and three service organizations. It has under its aegis two boards for promoting and funding extramural research in nuclear and allied fields, mathematics and a national institute (deemed university).

6. Department of Biotechnology (DBT)

The Department of Biotechnology (DBT) is an Indian government department, under the Ministry of Science and Technology responsible for administrating development and commercialization in the field of modern biology and biotechnology in India. It was set up in 1986. In December 2015, the Department of Biotechnology launched the National Biotechnology Development Strategy 2015–2020 programme. The stated aim of the programme is to intensify research in the fields of vaccines, humane genome, infectious and chronic diseases, crop science, animal agriculture and aquaculture, food and nutrition, environmental management, and technologies for clean energy.

7. Department of Chemicals & Petrochemicals, Ministry of Chemicals & Fertilizers

The Ministry of Chemicals and Fertilizers in India is the federal ministry with administrative purview over three departments namely:-

  • Department of Chemicals and Petrochemicals
  • Department of Fertilizers
  • Department of Pharmaceuticals

The Ministry is headed by the Minister of Chemicals and fertilizers. Mansukh L. Mandaviya is the current minister for the departments.

Also Read More-

Infosys to acquire German digital marketing agency Oddity

VC fund Bertelsmann India Investments raises $500 million in funding

Lenskart raises $100 million in Series-I funding and may close the round at a valuation of $5 billion