MSME ministry launches scheme to promote creativity, entrepreneurship in sector

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TheMSME ministry launched an innovative scheme to promote creativity, adoption of latest technologies and increase awareness about importance of among MSMEs.

The scheme is an amalgamation of the incubation, design andIPR(intellectual property rights) schemes of the ministry.

It would act as a hub for innovative activities, besides facilitating and guiding development of ideas into viable business prepositions that can benefit Society directly and can be marketed successfully.

Launching the scheme,MSMEMinister Narayan Rane said the scheme will help the MSME sector, which accounts for a major share in the country’s exports and

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manufacturing.

Under the scheme, the ministry would provide financial assistance for innovation, design and IPR protection.

The IPR vertical of the scheme aims at enhancing the awareness of these rights among MSMEs and taking suitable measures for the protection of ideas, technological innovation and knowledge-driven business strategies.

Similarly, under the innovation vertical, untapped creativity would be supported and promoted besides adoption of latest technologies in MSMEs.

The Innovative scheme provides financial assistance up to Rs.5 lakh for a foreign patent, Rs.1 lakh for a domestic patent, Rs.2 lakh for GI registration, Rs.15,000 for design registration and Rs.10,000 for a trademark in the form of reimbursement.