Promoting Innovations in Individuals, Start-ups and MSMEs

Overview & Objective

Grants for individual innovators, startups and MSMEs to build prototypes and commercialise ideas — up to ₹50 lakh in project support.

Key Benefits & Funding

• Support of ₹12 lakh per annum would be given to TOCICs to cover expenses. In addition, 10% of the grants released to the innovators/autonomous organisation/R&D labs etc. supported by the agency/TOCICs will be given to the agency per project for monitoring the project execution. For innovators:
• Phase I: Category-I Up to ₹2 lakh or 90% of the approved project cost
• Phase I: Category II - Up to ₹20 lakh or 90% of the approved project cost
• Phase II: Up to ₹50 lakh or 50% of the approved project cost
• PRISM-R&D Proposals: Maximum support may be up to ₹50 lakh, limited to 50% of the total project cost for developing technology solutions aimed at helping MSME clusters.

Eligibility Criteria

• Public funded institutions or organizations viz. Autonomous Organizations or Society registered under the Societies Registration Act, 1860 or Indian Trusts Act, 1882 engaged in promotion of innovation. Any Indian citizen having an innovative idea and wish to translate their idea into working prototypes/models/processes.

How to Apply

Website: https://www.dsir.gov.in/offerings/schemes-and-services/details/promoting-innovations-in-individuals-start-ups-and-msmes-prism-kjMwITMtQWa