MSMEs are the strongest drivers of Nation’s economic development, innovation and employment. It becomes imperative to strengthen MSME’s ecosystem by developing innovative solutions and applications which will help them to move up the value chain. The Government of India, therefore, envisioned creating MSME Innovative Scheme through combination of Incubation, Design intervention and IPR protection initiatives to enhance MSME competitiveness and transform them as National and International Champions.
ABOUT “MSME INNOVATIVE” SCHEME
MSME Innovative Scheme will be an amalgamation of the Incubation, Design and IPR Schemes of the Ministry of MSME. These erstwhile three schemes will operate as separate verticals with interflows and connections. These verticals will also be integrated sequentially and parallelly into one singular formulation to promote and encourage innovative activities for improved synergy and higher efficiency.
MSME Innovative is a new concept for MSMEs with a combination of innovation in incubation, design intervention and by 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 hub for innovation activities facilitating and guiding development of ideas into viable business proposition that can benefit society directly and can be marketed successfully.