To promote innovations, provide appropriate facilities for development of concept to market, design competitiveness and protection and commercialization of Intellectual creations of MSME sector.
Promote a culture of innovation and serve as a connecting link between industrial/academia
leaders and innovators, in order to encourage new product development and hand-holding.
Developing affordable innovations that can benefit a large number of people and at the same time being commercially viable and sustainable.
Incubation: Financial Assistance for developing and nurturing the ideas (max INR 15 lakh per idea), assistance for procurement and installation of relevant plant and machinery (max INR 1 crore)
Design Project: For the design projects approved for any MSME, 75% (Micro) and 60% (Small & Medium) of the total project cost will be contributed by GoI up to a maximum of Rs. 40 lakh and the remaining project cost will be borne by MSMEs and deposited to the IA.
Student Project: 75% of the total project cost will be contributed by GoI up to a maximum of Rs. 2.5 lakhs.
IPR: Grant upto INR 1 crore to an IPFC in milestone-based (three or more) installments.
Reimbursement for registration of Patent, Trademark, Geographical Indications (G.I.), Design (foreign patent INR 5 lakh, domestic patent INR 1 lakh, GI registration INR 2 lakh, design registration INR 0.15 lakh, trademark INR 0.10 lakh)
SCHEME APPLICABLE FOR
Incubation: MSMEs, Individuals, Students who want to develop their innovative ideas can apply through registered HIs.
Design: The beneficiary unit(s) must typically be a registered micro, small or medium enterprises as per the definition in MSMED Act and should have a valid UAM or Udyam Registration.
IPR: For Manufacturing MSMEs with UAM/UDYAM Registration.
Holistic approach to unify, synergize and converge 3 sub- schemes and interventions
with a single purpose MSME Innovative is a new concept for MSMEs with a combination of innovation in incubation, design intervention and by protecting IPR in a single
mode approach to create awareness amongst MSMEs about India’s innovation and motivate them to become MSME Champions.