The Maharashtra State Innovation Society has launched the Intellectual Property Rights Scheme and the Quality Testing & Certification Scheme in a bid to boost the start-up ecosystem and generate employment in the state. The schemes aim at providing financial assistance to upcoming start-ups for quality testing, certifications, and registration of IPRs. The Maharashtra State Innovation Society was set up by the Department of Skill Development, Employment and Entrepreneurship to harness technology and business innovation in the state.
On February 2, 2021, the schemes were inaugurated by the Chief Minister of Maharashtra, Shri Uddhav Thackrey. The Hon'ble Minister of Skill Development, Employment, and Entrepreneurship claimed in a press conference that the first phase of the Scheme was going to benefit about 125 to 150 start-ups. The Minister emphasized the role of protection of Intellectual Property Rights to survive in a competitive business atmosphere. The objective of the schemes is to spread awareness and provide assistance regarding IPR protection. To be eligible for aid, quality tests have to be done at Government approved labs. It is also important to note that to be a beneficiary under the Scheme; the start-up should be incorporated in Maharashtra, recognized by the Central Government's Department for Promotion of Industry and Internal Trade, and registered with the Maharashtra State Innovation Society.
Under the Intellectual Property Rights Scheme, financial assistance up to Rs. 2 lacs will be provided for domestic patent applications, and up to Rs. 10 lacs for international patent applications. The scheme will also provide financial aid for Trademark, Design, and Copyright (for Computer Programs) applications. There are, however, certain eligibility criteria for accessing benefits under this Scheme. To receive aid for domestic patent applications, a start-up cannot have annual revenue exceeding Rs. 1 crore. Similarly, for international applications, the bar is set at Rs. 5 crores. The Quality Testing & Certification Scheme aims to provide financial assistance for quality testing and certification processes which are important but a costly affair for new businesses. Start-ups will be provided up to Rs. 2 lacs for these processes on the condition that their annual revenue has not crossed Rs. 1 crore and they have not raised more than Rs 3 crore in a financial year.
This comes as great news for entrepreneurs and the start-up community in Maharashtra. For checking the eligibility criteria and applying under these schemes, visit https://www.msins.in/
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