Government of India’s Ministry of Micro Small & Medium Enterprises (MSME) via its MSME Innovative Scheme endeavours to foster latent innovation along with adoption of latest technology.
The Scheme offers a new concept for MSMEs that combines incubation, design intervention and Intellectual Property Rights (IPR) protection in a single mode approach to raise awareness and encourage MSMEs to become MSME champions.
The objective of ‘Incubation’ is to promote and support untapped creativity and promote adoption of latest technologies in MSMEs. The financial support available is up to Rs 15 lakh for new idea and up to Rs 1 Crore for relevant Plant & Machinery. MSMEs, Individuals and Students are eligible for Incubation.
‘Design’ objective is to facilitate MSMEs to develop new design strategies through interventions and consultancy. The financial support is up to Rs 40 lakh for design project and up to Rs 2.5 lakh for student project. Registered MSME and a valid Udyam Registration, satisfies the eligibility criteria.
The objective of ‘IPR’ is to create awareness about the Intellectual Property Rights among MSMEs. The financial support involves up to Rs 1 Crore for setting up IPFC. One gets financial support for patents/trademark/geographical indication/design registration. The eligibility is a registered MSME and a valid Udyam Registration.
More information can be obtained on http://www.innovative.msme.gov.in
