The Centre has revised its eligibility standards for deep-tech startups trying to safe monetary help from the Department of Scientific and Industrial Research. This initiative was introduced by Union Science and Technology Minister Jitendra Singh in the course of the forty second basis day celebration of DSIR.
Significantly, the three-year viability requirement has been eradicated, permitting startups to avail monetary help of as much as Rs 1 crore a lot earlier of their journey underneath DSIR’s Industrial Research and Development Promotion Program (IRDPP). This shift is anticipated to expedite the expansion trajectory of rising startups by accelerating their scalability.
Minister Singh highlighted that whereas the substantial Rs 1 lakh crore Research, Development and Innovation fund targets startups with technological achievements, a wide selection of schemes stay in place for early-stage innovators and entrepreneurs. The adjustment goals to supply important early-stage momentum, fostering innovation throughout the sector.
(With inputs from businesses.)