Technology Transfer Scheme will be implemented via the Kerala Startup Mission (KSUM).
It will reimburse the expense incurred by the new startup ventures while procuring technology licenses from the government research institutes in India to commercialize and scale their products.
Under this scheme, a maximum of Rs.10 lakh will be reimbursed to startups purchasing or sourcing technologies the government research institutes and working on them to develop products that can be commercialized.
The will reimburse 90 per cent of the technology fee paid by the startups to the research institutions that are providing technology licenses.
The ultimate goal of the scheme is to encourage startups to innovate their ideas by minimising the cost involved.