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I've heard this term many times. I've tried to google it but there is a very little about it. There is no online resource which explains the term and what is this position.

So my question is, What is applied rationalism? Can any one explain it?

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See :

He tries a "mediation" between rationalism and empirism :

It is precisely in the central position that the dialectic of reason and technique finds its efficacity. We will try to place us in this central position where occur both an applied rationalism and an educated materialism. [...] It is through its applications that rationalism conquers its objective values. It is therefore no longer to judge scientific thought relying on formal, abstract, universal rationalism. We must reach a concrete rationalism, always founded on detailed and specific experiences. It also requires that this rationalism is open enough to receive from experience new determinations ["revised" Google translation].

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