Promoting Innovations in Individuals, Start-ups and MSMEs (PRISM)

The PRISM scheme provides funding and support to individual innovators, startups, and small businesses so they can turn new ideas into useful products and grow their businesses.

• PRISM (Promoting Innovations in Individuals, Start-ups and MSMEs) Scheme supports individual innovators with financial assistance that helps them build prototypes, develop technologies, and move toward patenting & commercialisation.
• DSIR has established a robust mechanism to implement this scheme across the country through TePP Outreach cum Cluster Innovation Centres (TOCICs) in Universities and National research laboratories and PRISM Advisory and Screening Committee PASC at Delhi to receive and evaluate the proposals from innovators for funding.

• 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. Any Indian citizen having an innovative idea and wish to translate their idea into working prototypes/models/processes.

• Support of ₹12 lakh per annum would be given to TOCICs to cover expenses. In addition, 10% of the grants released to the innovators/autonomous organisation/R&D labs etc. supported by the agency/TOCICs will be given to the agency per project for monitoring the project execution. For innovators:
• Phase I
• Category-I Up to ₹2 lakh or 90% of the approved project cost
• Category II - Up to ₹20 lakh or 90% of the approved project cost
• Phase II
• Up to ₹50 lakh or 50% of the approved project cost
• PRISM-R&D Proposals
• Maximum support may be up to ₹50 lakh, limited to 50% of the total project cost for developing technology solutions aimed at helping MSME clusters.

Website: https://www.dsir.gov.in/offerings/schemes-and-services/details/promoting-innovations-in-individuals-start-ups-and-msmes-prism-kjMwITMtQWa

• Website: dsir.gov.in (opens in a new tab)