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Indian Institute of Technology Kanpur’s startup SIIC held a one-day workshop with WASME to promote the MSME Innovative Scheme.
New Delhi: The Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur collaborated with the World Association for Small and Medical Enterprises (WASME) and conducted a one-day awareness program on the MSME Innovative Scheme at WASME on February 12, 2024.
The aim of the workshop on MSME Innovative Scheme was to empower MSMEs by providing insights into leveraging opportunities offered by the scheme. The programme commenced with a dynamic presentation by Dr. Riddhi Mahansaria, Manager at SIIC, IIT Kanpur. She outlined critical aspects of the program, offering valuable insights into harnessing the potential of the MSME Innovative Scheme.
Additionally, she emphasized innovative solutions deployed in the market by previous beneficiaries, including Phool.co startup, Culture, Primary Healthtech, and other startups.
Prof. Ankush Sharma, Professor In-charge, Start-up Incubation and Innovation Centre, IIT Kanpur, said, “Through our collaborative efforts with WASME and the Ministry of MSME, this program serves as a foundation in empowering individuals with adequate knowledge and relevant resources to strengthen their business ventures. By providing mentorship,
infrastructure, and a nurturing environment, SIIC aims to contribute to the support of the ' Aatmanirbhar Bharat' mission."
Notable dignitaries, such as Dr. Sanjeev Layek, Executive Secretary of WASME, and Mr. Rony Banerjee, Advisor at EY, graced the event and provided a platform for intelligent discussions on the intricacies of the MSME landscape in India.
Dr. Sanjeev Layek emphasized the critical role MSMEs play in the Indian economy and encouraged participants to effectively develop solutions and enhance their impact through the scheme. Mr. Rony Banerjee discussed the significance of Design Thinking in the product development journey, highlighting its essential role for MSMEs in understanding scheme requirements and effectively identifying problem statements.
How does the MSME Innovative Scheme help small businesses?
The MSME Design Scheme provides grants ranging from Rs. 15 to 40 Lakh for MSMEs and up to Rs. 2.5 Lakh for students engaged in design development. It will assist MSMEs in seeking assistance on every aspect of design. It enables MSMEs to develop and fulfill their design-related objectives.
Ques. Who are eligible for the MSME Innovative Scheme?
Ans. The beneficiary unit(s) must typically be a registered micro, small or medium enterprises as per the definition in MSMED and should have a valid UAM or Udyam Registration. The manufacturing MSMEs may be a profitable entity preferably in the last 1 year of its operations, PMAC can relax the criteria. The designer that a unit employs in this scheme should be qualified Industrial designers having a relevant experience in that field. Implementing agencies should verify all the relevant documents.
Ques. What is the Project Selection Procedure for MSME Innovative Scheme?
Ans. The MSME would submit their application online on the portal through the IA. Upon receipt of the application, the IA will conduct a preliminary screening and may seek clarification or supplementary information from both the applicant design Consultant/company and applicant MSME.
After screening, IA will submit the application together with its recommendation to Project Monitoring & Advisory Committee (PMAC) for consideration. Project proposal should be discussed and reviewed in Project Assessment Panel (PAP) before presenting it to the PMAC.
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