NEW DELHI: The MSME ministry announced a novel initiative on Thursday to encourage MSMEs to be more creative, adopt new technology, and be more aware of the value of intellectual property rights. The initiative combines the ministry’s incubation, design, and IPR (intellectual property rights) schemes.
It would serve as a center for innovative activities, as well as aiding and leading the development of ideas into viable business propositions that can directly benefit society and be successfully sold.
MSME Minister Narayan Rane, who launched the scheme, said it will benefit the MSME sector, which accounts for a large portion of the country’s exports and manufacturing.
He believes that the industry should step forward and take advantage of the program. The government would provide financial aid for innovation, design, and IPR protection under the plan.
The scheme’s IPR vertical intends to raise MSMEs’ awareness of these rights and to take appropriate steps to protect ideas, technical innovation, and knowledge-driven business strategies.
Similarly, under the innovation vertical, latent creativity, as well as the use of cutting-edge technologies in MSMEs, would be fostered and promoted. The scheme’s design component aims to unite the manufacturing industry and design knowledge on a single platform. It also aims to provide real-time professional guidance and cost-effective solutions for new product development design difficulties.
On March 16, 2015, the Hon’ble Minister of MSME introduced the ASPIRE scheme. ASPIRE was established to provide a network of technology centers and incubation centers to accelerate entrepreneurship and to support start-ups for agro-industry innovation and entrepreneurship.
It would serve as a center for innovative activities, as well as aiding and leading the development of ideas into viable business propositions that can directly benefit society and be successfully sold.
MSME Minister Narayan Rane, who launched the scheme, said it will benefit the MSME sector, which accounts for a large portion of the country’s exports and manufacturing.
He believes that the industry should step forward and take advantage of the program.
The government would provide financial aid for innovation, design, and IPR protection under the plan.
The scheme’s IPR vertical intends to raise MSMEs’ awareness of these rights and to take appropriate steps to protect ideas, technical innovation, and knowledge-driven business strategies.
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