PRISM (Promoting Innovations in Individuals, Start-ups and MSMEs)

If you have an idea that can boost inclusive development in the country then here is a scheme by Ministry of Science and Technology that you should definitely not miss.

PRISM (Promoting Innovations in Individuals, Start-ups and MSMEs) scheme

Who can apply

Any Indian citizen having innovative idea and wish to translate their idea into working prototypes/models/processes; 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.

Thrust Areas

The proposals shall preferably be considered in the following focus sectors: Green technology, Clean energy, Industrially utilizable smart materials, Waste to Wealth, Affordable Healthcare, Water & Sewage Management and any other technology or knowledge intensive area.

Programs and Eligibility

PRISM Phase-I

Category-I: Proof of Concept/ Prototypes/ Models

Scheme :Maximum support may be limited to 2.00 lakh or 90% of the total project cost whichever is lower.

Eligibility : Any Indian citizen including student innovator can avail support to develop their novel idea into demonstrable models/prototypes.

Category-II: Fabrication of working model/process know-how/ testing and trial/patenting/technology transfer etc. (Innovation Incubation)

Scheme: Maximum support may be limited to 20.00 lakh or 90% of the total project cost whichever is lower.

Eligibility: Any Indian citizen having innovative ideas.

PRISM- Phase-II (Enterprise Incubation)

Scheme: Maximum support may be up to 50.00 lakh limited to 50% of the total project cost. The support may be provided for scaling up technology based innovations, including patenting/design registration/trademark registry/ technology transfer to develop a marketable product/process towards enterprise creation.

Eligibility: Successful PRISM innovators or innovators who have successfully demonstrated proof of concept with the support of other government institutions/agency.

PRISM-R&D Proposals

Scheme: Maximum support may be up to 50.00 lakh, limited to 50% of the total project cost for developing technology solutions aimed at helping MSME clusters.

Eligibility: Any R&D institute / autonomous institutions/public funded laboratories/ academic institutes and so on.

For applying and further details you can check at their website: http://www.dsir.gov.in/#files/12plan/prism/prism.html

Keep innovating…..:-)