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MSME Innovative Scheme

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More Info
innovative.msme.gov.in
Organization
Ministry of Micro, Small & Medium Enterprises
Fund type
Other | Reimbursement
Source
Government
Status
Active
Focus area
Biotech, Medtech, Health & rehabilitation | Agriculture, food and nutrition | Cleantech, energy, environment, waste, sanitation | Automation, mobility | Hardware, software, IOT, data, AI, ML | Industrial Products | Material Tech, textiles | Space and Aviation | Other sectors
Target
Private Limited Company | Limited Liability Partnership | Individual- students | Individual- Innovators | Individual- academicians | Individual- researcher | MSME
Fund range
< Rs. 10 lakhs | Rs. 10 lakhs- Rs. 25 lakhs
Fund stages
A. Technology Development | B. Patent Protection | D. Technology Scale-up/ Validation / De-risking

Financial assistance under this activity will be utilised for engagement of design consultants for design interventions and expenses pertaining to development of prototype/product. 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.

Purpose

The objective of this component is to bring Indian manufacturing sector and Design expertise/ Design fraternity on to a common platform. It aims to provide expert advice and cost-effective solution on real time design problems for new product development, its continuous improvement and value addition in existing/new products.

MSME Innovative Scheme will be an amalgamation of the Incubation, Design and IPR Schemes of the Ministry of MSME. These erstwhile three schemes will operate as separate verticals with interflows and connections. These verticals will also be integrated sequentially and parallelly into one singular formulation to promote and encourage innovative activities for improved synergy and higher efficiency. 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. This will act as a hub for innovation activities facilitating and guiding development of ideas into viable business proposition that can benefit society directly and can be marketed successfully. MSME Innovative Champions is a holistic approach to unify, synergize and converge 3 sub schemes and interventions with a single purpose. The implementation agencies (Host Institutes, IISc, IITs, NITs and IPFCs, etc.) will be common for these sub schemes for taking them through the initial stage of idea conceptualization to handholding to business development to final growth and outreach.