About “MSME”

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The Ministry of Micro, Small & Medium Enterprises (M/o MSME) aims to promote the growth and development of the MSME sector which is done through collaboration with various government departments, state governments, and stakeholders.

The “MSME innovative scheme” is an union of Incubation, Design and IPR scheme of the ministry of MSME. The goal of this scheme is to motivate the small and medium businesses  and to make them aware about the importance of innovation. 

It also provides support and guidance to help these businesses to develop their ideas into products. The three main components of the scheme are as follows:

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1. INCUBATION- 

This scheme aims to promote creativity and the adoption of new technologies in MSMEs by assisting them in validating their ideas at the proof-of-concept stage. It also provides support for these businesses to enhance their growth through guidance in design, strategy, and execution.

 

    2.DESIGN-

The objective of this component is to create a collaborative platform between the Indian manufacturing sector and the design community.

This scheme seeks to provide MSMEs with expert guidance and cost-effective solutions for addressing design challenges in new product development and product improvement. Experienced designers offer support to help MSMEs achieve their design-related objectives in both creating new products and enhancing their existing product offerings.

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    3.IPR-

The scheme aims to boost the intellectual property (IP) culture in India by increasing awareness of Intellectual Property Rights (IPRs) among MSMEs and promoting creative intellectual efforts in the Indian economy. It also focuses on safeguarding ideas, technological innovations, and knowledge-based business strategies developed by MSMEs, facilitating their commercialization and effective use of IPR tools.

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SCHEME OBJECTIVES:

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To promote all forms of innovations in the complete value chain from developing ideas into innovative applications through incubation and design interventions.

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❖ To provide appropriate facilities and support for development of concept to market, design competitiveness and protection & commercialization of intellectual creations of MSME sector.