Multi-Channel Innovation Fund. Where the money comes from, and where it goes.
MCIF is the single fund that pays for everything DHI InnoTech does. It is deliberately multi-channel (no single source covers more than roughly half) so a project's continuity doesn't hinge on any one party's annual decision.
- Annual fund · FY 2025–26
- Nu. 218M
- Active projects
- 9
- Shipped to operators
- 3
Five channels, deliberately mixed.
Each percentage is the FY 2025–26 share. Sources are reported quarterly alongside an allocation reconciliation; the chart below is current as of the most recent close.
DHI shareholder allocation
A fixed annual transfer from Druk Holding & Investments' shareholder pool. The base case for predictable multi-year project budgeting.
Government partnership grants
Project-tied grants from line ministries: typically capital plus first-year operating for pilots inside their domain.
Multilateral & bilateral funding
ADB, World Bank, and bilateral programmes co-funding pilots that meet their thematic windows (climate, digital, inclusion).
Private partner co-investment
Cash and in-kind from technology partners participating in pilots: typically the AMI metering, sensor, or storage layers.
Earned revenue from deployed systems
Licensing and ops fees from projects that have moved from pilot to deployed (e.g. SWMS dashboard ops fee).
Where every Nu. is spent, by vertical.
Cross-cutting work (field IoT projects that span multiple verticals) is the single largest line, matching the current portfolio shape. The numbers move year over year; the methodology doesn't.
Cross-cutting
Field IoT projects that span verticals: SWMS, the air-quality mesh, future deployments.
AI & Robotics
Dzongkha NLP, applied computer vision for agriculture and infrastructure, small mobile platforms.
Energy
Alpine PV, micro-hydro instrumentation, thermal storage, grid-edge analytics.
Operations
Internship programme, public engagement, partner coordination, infrastructure.
Quantum
A deliberately small group: quantum sensing, post-quantum cryptography for civic infra, curriculum partnerships.