(THE GIST OF PIB) MSME Innovative Scheme

[March-2022]

Union Minister for MSME Narayan Rane has launched the MSME Innovative Scheme (Incubation, Design and IPR) along with the MSME Idea Hackathon 2022.

MSME Innovation Scheme will promote and support untapped creativity of the MSME sector.
It will act as a hub for innovation activities facilitating and guiding development of ideas into viable business proposition which benefits society directly.
The scheme is a holistic approach to unify, synergize and converge 3 sub-components and interventions with a single purpose.
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. Details of the sub-schemes are as under.