Promoting Innovations in Individuals, Start-ups and MSMEs (PRISM)
What is PRISM:
PRISM (Promoting Innovations in Individuals, Start-ups and MSMEs) scheme aims to support individual innovators to achieve the agenda of inclusive development – one of the thrust areas of XIIth five year plan (2012-2017). It would also provide support to institutions or organizations set up as Autonomous Organization under a specific statute or as a society registered under the Societies Registration Act, 1860 or Indian Trusts Act, 1882; leading to the development of new state-of-art technology solutions aimed at helping MSME clusters.
Who can apply:
The following individuals and organisations can apply for PRISM scheme:
Any Indian citizen with an innovative idea and a wish to translate the same into working prototypes/models/processes; public funded institutions or organizations viz. Autonomous Organizations or Society registered under the Societies Registration Act, 1860 or Indian Trusts Act, 1882 engaged in promotion of innovation
The proposals shall preferably be considered in the following focus 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.
Programs and Eligibility
|Category-I: Proof of Concept/ Prototypes/ Models
Maximum support may be limited to 2.00 lakh or 90% of the total project cost whichever is lower.The support is for micro budget innovations.Selected projects will be provided financial support to initiate apromising development, prove functionality by a lab model/ computermodel/mathematical model, apply for patenting etc
|Any Indian citizen including student innovator can avail support to develop their novel idea into demonstrable models/prototypes.|
|Category-II: Fabrication of working model/process know-how/ testing and trial/patenting/technology transfer etc. (Innovation Incubation)
Maximum support may be limited to 20.00 lakh or 90% of the total project cost whichever is lower.
Proposals to convert an original
idea/invention/know-how into working prototype/process and proposals
to demonstrate novel delivery models to take S&T innovations leading to inclusive growth can be considered.
|Any Indian citizen having innovative ideas.|
|PRISM- Phase-II (Enterprise Incubation)|
|Maximum support may be up to 50.00 lakh limited to 50% of the total project cost.
The support may be provided for scaling up technology based innovations, including patenting/design registration/trademark registry/ technology transfer to develop a marketable product/process towards enterprise creation.
|Successful PRISM innovators or innovators who have successfully demonstrated proof of concept with the support of other government institutions/agency.|
|Maximum support may be up to 50.00 lakh, limited to 50% of the total project cost for developing technology solutions aimed at helping MSME clusters.||Any R&D institute / autonomous institutions/public funded laboratories/ academic institutes and so on.|
- The projects relating to pure software development and those involving pure academic research are not eligible.
- The financial support is not an award or a prize or a research fellowship. The financial support is provided for the work to be undertaken.
- Students will have to provide a `No Objection Certificate’ from the Head of their institutions, on the institution’s letter-head along with their application and the commitment from the institutions that the project will be taken to its logical conclusion by the student/concerned faculty.
- The applicant has to be a single person. When a group of students want to pursue the project, then there has to be an agreement among the group about the lead applicant. Though financial support can be given only to the single applicant by name, letter of appreciationcan be given by the department to all the students of the team, after successful completion of the project.
- Elements like self salary, rent of own accommodation, creation of infrastructure facility like shed etc should not form the component of support/funds. The support/funds should be mainly for prototype development work/proof of concept.
- Travel costs are based on actual and not exceeding 5% of the approved project cost.
- Students pursuing long term research projects like doctoral research projects or similar projects will not be supported; however, student entrepreneurs will be eligible if they have the right to commercially exploit the technology.
- The retention schedule of documents for PRISM for RTI Act, 2005 may be as follows:
-Rejected or not supported Application: One Year since the date of rejection
-Approved proposals: Three years (since the closure of the project/issuance of final sanction order).
Process & Outreach Partner:
The proposals can be submitted to the nearest TePP Outreach cum Cluster Innovation
Centres (TOCICs). The innovators can meet coordinators of TOCICs and take theiradvice before submitting the application.
The Indian Institute of Technology Kharagpur functions as a TOCIC.
The contact details of relevant persons at IIT Kharagpur are given below:
|Prof Satyahari Dey Professor, Department of Biotechnology and Managing Director, STEPfirstname.lastname@example.org
|Prof CS Kumar, Professor, Department of Mechanical Engineering, Head, Rajendra Mishra School of Engineering Entrepreneurshipemail@example.com
+91 (3222) 281998
|Prof Basab Chakraborty Department of Rajendra Mishra School of Engineering Entrepreneurshipfirstname.lastname@example.org
IIT Kharagpur TOCIC also partners with different educational and R&D institutes to conduct PRISM workshops.
The purpose of the workshop is to
- Promote innovation and entrepreneurship among your students
- Share different PRISM funding options, project criteria and
- Provide counselling to innovate on their existing projects and guide them for participating in the PRISM