MSME ministry launches scheme to promote creativity, entrepreneurship in sector
- IBEF
- March 11, 2022
The MSME ministry announced an innovative initiative combining the ministry's incubation, design, and IPR (intellectual property rights) schemes to encourage MSMEs to be more creative, adopt new technology, and be more conscious of the value of intellectual property rights. It would serve as a centre for innovative activities, as well as aiding and leading the development of ideas into viable business propositions that may directly benefit society and be effectively sold.
The industry should step forward and take advantage of the programme. The government would give financial aid for innovation, design, and IPR protection under the plan. U nder the innovation vertical, latent creativity as well as the use of cutting-edge technology in MSMEs will be fostered and promote. The scheme's design component aims to unite the manufacturing industry and design knowledge on a single platform. It also aims to provide real-time professional guidance and cost-effective solutions for new product development design difficulties.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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