Government Grants & Funding
In India, the government offers a variety of grants and funding programs to support businesses, especially those focused on innovation, research and development, and social impact. These grants can be a great source of financial assistance for businesses looking to grow and expand.
Government Grants & Funding Details
1. Ministry of Micro, Small and Medium Enterprises (MSMEs):
- Credit Linked Capital Subsidy Scheme (CLCSS): Provides subsidy for technology upgradation in MSMEs by facilitating access to modern technology.
- Entrepreneurship and Skill Development Programs: Various schemes aimed at enhancing entrepreneurial skills and promoting self-employment.
2. Department for Promotion of Industry and Internal Trade (DPIIT):
- Startup India Scheme: Offers various benefits including funding support, tax exemptions, and incubation facilities to startups recognized under the scheme.
- Intellectual Property Rights (IPR) Support: Funding for patent filing, trademark registration, and other intellectual property-related expenses.
3. National Small Industries Corporation (NSIC):
- Raw Material Assistance Scheme: Helps small businesses in procuring raw materials at concessional rates to enhance their competitiveness.
4. Technology Development Board (TDB):
- Provides financial assistance to businesses for development and commercialization of indigenous technologies through the Technology Development and Demonstration Programme (TDDP).
5. Biotechnology Industry Research Assistance Council (BIRAC):
- Supports biotechnology startups and entrepreneurs through funding schemes like the Biotechnology Ignition Grant (BIG) and Biotechnology Industry Partnership Programme (BIPP).
6. National Research Development Corporation (NRDC):
- Facilitates commercialization of technologies developed by startups and MSMEs through financial assistance and technology licensing.
7. State Government Initiatives:
- Each state in India may have its own set of grants and funding schemes tailored to local economic priorities, industrial development, and entrepreneurship support.
8. Research and Development (R&D) Grants:
- Government bodies like the Department of Science and Technology (DST) and Council of Scientific and Industrial Research (CSIR) offer grants to support R&D initiatives in businesses.
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