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Govt launches innovative scheme for MSMEs

March 11, 2022

Govt launches innovative scheme for MSMEs
The MSME industry launched the MSME Innovative Scheme with the combination of existing sub-schemes around incubation, design, and intellectual property rights for MSMEs. 

The new scheme would act as a hub for innovation activities facilitating and guiding the development of ideas into viable business propositions that can benefit society directly and can be marketed successfully, the ministry said at the launch. However, the three schemes of incubation, design and IPR will also continue to operate as individual programmes. 
 
MSME Minister said at the launch of the scheme, “Prime Minister believes India can become atmanirbhar, create employment, boost entrepreneurship, adopt new technologies, enhance GDP and exports through MSMEs. We have announced the MSME Innovative Scheme in that direction to support different MSME ideas”.
 
“Our enterprises should also endeavour to achieve the growth in manufacturing the way business in nations as the US and China have achieved. This new scheme will ensure support through guidance, financial support, technical support, and more to MSMEs to scale up”. 
 
The incubation part under the scheme would promote the adoption of the latest technologies among MSMEs that seek validation of their ideas at the proof-of-concept level. The ideas would be incubated at eligible institutions recognized by the government to act as business incubators. 
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