The MSME Innovative (Incubation, Design, and IPR) scheme was launched on the day of 10thMarch, 2022 along with MSME Idea Hackathon – 2022 by the Hon’ble Union Minister Shri Narayan Rane for Micro, Small, and Medium Enterprises. The main objective of this scheme is to support & promote the unexplored creativity of individuals and to promote the adoption of the latest technologies in manufacturing as well as knowledge-based innovative MSMEs. Mainly “MSME Idea Hackathon 2.0” is inviting ideas from Students, Innovators, and MSME
The Ministry of MSME now proposes to launch MSME Idea Hackathon 2.0 (THEME BASED) under the identified five sectors (Agriculture, Healthcare, Power & renewable energy, Services, and Miscellaneous) as per the scheme guidelines. An innovator with respect to any business nature who has an innovative idea can submit his/her idea(s) through online mode at https://innovative.msme.gov.in/.
These ideas will be evaluated by five Domain Expert Selection Committees (DESCs) comprising of experts from the Academia/Industry/ Government. After the detailed evaluation by the DESCs, the recommended ideas were forwarded to the Project Monitoring & Advisory Committee (PMAC) for final approval. The approved ideas will be granted financial help as per scheme guidelines for further development.
MSME Innovative is an integrated approach to unify, synergize and converge 3 sub-components and mediate with a single purpose. MSME Innovative is a new concept for MSMEs with a combination of innovation in incubation, design intervention, and additionally 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 big hub for innovation activities facilitating and guiding the development of ideas into practical business propositions that can provide benefit to society directly and can be marketed successfully. Details of the sub-schemes are stated as under:-
- Incubation: The primary objective of the scheme is to support and promote unexplored creativity and provide funds and the latest technologies in MSMEs that seek the validation of their ideas at the proof-of-concept level. Financial assistance provide up to Rs. 15 lakh on every idea and up to Rs. 1.00 crore for required tools, technology, plant, machines, etc. will be provided.
- Design: The main objective of this component is to bring all Indian manufacturing sector and Design fraternity /Design expertise to the common platform. It aims to provide expert advice and cost-effective solution based on real-time design problems for new product development and its continuous improvement and value addition in existing/new products. Financial assistance may be given up to Rs. 2.5 lakh for student projects and up to Rs. 40 lakhs for design projects will be provided.
- IPR (Intellectual Property Rights): The objective of this scheme is to improve the IP culture in India with a view to enhance the awareness and importance of Intellectual Property Rights (IPRs) amongst the MSMEs to try to encourage creative intellectual endeavors in the Indian economy. It also aims to inject suitable measures for the protection of ideas, technological innovation, and knowledge-driven business strategies developed by the MSMEs for their commercialization and effective utilization of IPR tools through the IP Facilitation Centre. Financial assistance may be given upto Rs. 5 lakh for Foreign Patent, Rs. 1.00 lakh for Domestic Patents, Rs. 15,000/- and for /Industrial Design Registration/Design Registration, Rs. 2.00 lakh for (GI) Geographical Indication Registration, Rs.10,000/- for Trademark in the form of reimbursement.
The proposed themes for MSME Idea Hackathon 2.0 are given below :
Themes according to the sector for MSME Idea Hackathon 2.0
|Low-cost Indigenous Digital Healthcare System
|Potable Water Solutions
|AVGC (Animation, Visual, Gaming& Comics)
|Supply Chain Management Solutions
|Eco-friendly & Sustainable Furniture
|Safety in Transportation & Industry
|Alternative Material for Single-Use Plastic (SUP)
|Waste to Wealth creation, Circular solutions &waste management
Nature of Assistance – Incubation
- Financial Assistance to Host Institutions for developing and nurturing the ideas- shall be provided up to a maximum of Rs. 15 lakhs per idea to Host Institutions.
- Financial assistance for Plant and Machinery to Host Institutions up to Rs. 1.00 cr. (max) – shall be provided for procurement and installation of relevant plant and machines including hardware and software, etc.