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MSME Innovative Scheme and MSME Idea Hackathon 2022

Published on March 13, 2022
Current Context: The Union Minister for MSME, Narayan Rane has launched the MSME Innovative Scheme and MSME Idea Hackathon 2022.
MSME Innovative Scheme and MSME Idea Hackathon 2022
  • Both the programs will help the entrepreneurs to launch new businesses.
  • MSME Innovative Scheme (Incubation, Design, and IPR): It is the combination of the existing three sub-schemes namely Incubation, Design, and IPR (Intellectual Property Rights) for MSMEs. In this MSME Innovation Scheme, all these 3 sub-schemes will operate as an individual program.
  • The MSME Innovation Scheme will promote and develop untapped creativity of the MSME sector. It will be a hub for innovation activities that will guide the development of new ideas and built them into viable business proposition which benefits society directly.
  • MSME Innovative is a new concept for MSMEs. It’s the combination of innovation in incubation, design intervention, and protecting IPR in a single mode approach. This will help to generate awareness amongst MSMEs about India’s innovation.
  • The Details of the sub-schemes are:
    • Incubation: It aims to promote and support untapped creativity and adopt technologies in MSMSE sectors in order to implement ideas. The funds up to Rs. 15 lakh per idea and up to Rs. 1 crore for relevant plants and machines will be provided.
    • Design: It aims to promote India’s manufacturing sector and design expertise on a single common platform. Expert advice and solution to the real-time design problems in a cost-effective way will be provided. The funds up to Rs. 40 lakhs for design project and up to Rs. 2.5 lakh for student projects will be provided.
    • IPR: It aims to promote IP culture and hence generates awareness of Intellectual Property Rights in MSMEs. Various measures to protect ideas, technological innovation, and knowledge-driven business strategies are developed. Thus, MSMEs will utilize IPR tools through IP Facilitation Centre in an effective way. The funds upto Rs. 5 lakhs for Foreign Patent, Rs. 1.00 lakh Domestic Patent, Rs. 2.00 lakh for GI Registration, Rs. 15,000 for Design Registration, Rs.10,000 for Trademark in the form of reimbursement will be granted.
    • MSME Idea Hackathon 2022: The MSMEs, innovators, students are invited through various host institutions to take part in this hackathon which will be executed till 24th March 2022.

Question: 

Q.1 Who among the following launched the MSME Innovative Scheme and MSME Idea Hackathon 2022?
a. Nitin Gadkari
b. Amit Shah
c. PM Narendra Modi
d. Narayan Rane

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