What is the scheme?
The scheme is aimed at facilitating development, demonstration and commercialization of technology, innovation projects pertaining to a new product or process development to encourage and promote the development of capabilities in MSMEs to innovate and to bring high-risk innovations to the market for opening up opportunities.
How much funding can a unit expect under the Scheme?
Assistance up to 80% of the total project cost, which would normally be not more than ₹ 100 Lakh.
Which units are eligible under this scheme?
New, as well as existing MSME units, are eligible under the scheme looking for financial assistance for investment in Capital expenditure, creation of Intangible assets, Pre-operative expenses, Manpower cost for development, demonstration, up-scaling and commercialization of innovative technology.
What are the loan tenure options?
Loan repayment period, including moratorium, should generally be not more than 6 years from the date of completion of the project.
What kind of collateral and margin is required?
The first charge on assets (both moveable/immoveable) created / to be created under the project and 20% of the project cost as Promoter’s margin.