What is the News?
The Union Minister for Science & Technology inaugurates the Event for Publicity of the PRISM (Promoting Innovations in Individuals, Startups, and MSMEs) scheme.
About PRISM Scheme:
- Nodal Ministry: PRISM is an initiative of the Department of Scientific and Industrial Research(DSIR), Ministry of Science and Technology.
- Aim: The aim is to help an individual innovator to become a successful technopreneur. It promotes, supports, and funds implementable and commercially viable innovations created for society.
- Who is eligible? Under the initiative, an innovator of Indian nationality – student, professional and common citizen- is eligible.
- Features: Eligible candidates are provided with technical, strategic, and financial assistance by DSIR-PRISM. Assistance is provided on the stages like idea development, prototype development, and pilot scaling and patenting.
- Sectors Covered: The proposals under the scheme will be accepted for the following sectors:
- Green technology
- Clean energy
- Industrially utilizable smart materials
- Waste to Wealth
- Affordable Healthcare
- Water & Sewage Management and
- any other technology or knowledge-intensive area.
- Financial Assistance: The grant under the scheme is given in two phases:
- Phase I:
- Category-I: For proof of concept/prototype/models, a grant amount of around Rs. 2 lakhs to Rs. 20 lakhs.
- Category-II: For fabrication of working model/ process know-how/ testing, a grant amount of around Rs. 2 lakhs to Rs. 20 lakhs.
- Phase II: For Enterprise incubation, a grant amount of a maximum of around Rs.50 lakhs.
- Phase I: