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Government Schemes

To boost economic development and aid financial stability, the Indian Govt is giving various schemes for startups, whether you are starting up a business, has a mid-aged business or well settled business. You can get all the required information regarding Govt startup schemes here.

Just click on the scheme link and there you go...

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Support for International Patent Protection In Electronics and Information Technology (SIP-EIT)

Headed by the Department of Electronics and Information Technology (DeitY), the SIP-EIT aims at:

  • Providing financial aid to MSMEs and technology startups.
  • Formulating international patent filings.
  • Revitalizing the ethics of innovation.
  • Acknowledging the capabilities of global IP.
  • Seizing growth opportunities in ICTE sectors.
  • The refunding will be limited to 15lakhs INR or 50% of total expenses in filling out patent applications.
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Multiplier Grants Scheme (MGS)

Headed by the Department of Electronics and Information Technology (DeitY), MGS strives at:

  • Initiating inter-organisational R&D collaborations between industries and education for better insight.
  • Regulating development of products and packages through R&D institutions.
  • The government has made very specific announcements for the financial incentives associated with MGS. The individual industry should be limited at 2cr per project for a time period of 2 years. The collective industries should be limited at 4cr per project for a 3 year time period.
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Performance and Credit Rating Scheme

Headed by the National Small Industries Corporation, the Performance and Credit Rating Scheme aims at:

  • Elucidating on a SWOT analysis of small-scale industries.
  • Legitimately formed under the Ministry of MSME along with leading stakeholders to boost business in small-scale industries.
  • If the ratings are 50lakhs, 25,000INR will be contributed. For turnover of 200lakhs, 30,000 INR will be contributed and for turnover of 400 lakhs, 40,000 INR will be contributed.
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Credit Linked Capital Subsidy For Technology Upgradation (CLCSS)

Govt is clearly aware that technology is the tool that can propel Indian startups and MSMEs to compete with global competitors.

This is the reason for the creation of Credit Linked Capital Subsidy for Technology Upgradation (CLCSS) scheme, wherein Govt provides financial help to MSMEs to upgrade their technology and implement state of the art technological platform for their business.

Under CLCSS, Govt provides 15% subsidy for investment up to Rs 1 crore for upgrading technology for startups and MSMEs in India. More than 7500 products/services are covered under this scheme.

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Credit Guarantee Trust Fund For Micro & Small Enterprises (CGT SME)

CGT SME is one of the biggest Startup Loan Schemes launched by the Ministry of MSME in India. Under this scheme, collateral-free loan up to Rs 1 crore is provided to eligible startups and MSMEs.

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National Clean Energy Fund (NCEF)

Headed by the Indian Renewable Energy Development Agency (IREDA), The NCEF aims at:

  • Reviving the existing operations of small hydropower projects and biomass power by bringing down the cost of financing.
  • This can be done by introducing refinancing at economic rates of interests.
  • The funding is extracted from the NCEF.
  • The maximum refinancing amount is set to INP 15cr per project. Refinancing should not exceed 30%of the loan and is cited at 2% interest rate from IREDA to the respective banks and financial institutes.
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Modified Special Incentive Package Scheme (M-SIPS)

Headed by the Department of Electronics and Information Technology (DeitY), M-SIPS aims at:

  • Spreading awareness about Intellectual Property Rights among various stakeholders in the E&IT sector.
  • Supporting IPR workshops and seminars to spread awareness.
  • The Indian Government provides for a capital subsidy of 20% for SEZ units and 25% for non-SEZ units. It is centred around electronic manufacturing. Additionally, it provides for reimbursements for capital excise by non-SEZ units.
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Pradhan Mantri Mudra Yojana

PM Modi launched Pradhan Mantri Mudra Yojana, wherein Micro Units Development and Refinance Agency Bank or MUDRA Banks provide loans at low rates to micro-finance institutions and non-banking financial institutions, who in turn provide low-interest loans to startups and MSMEs.

Categories of businesses, which can avail loans under MUDRA loan for startups:

  • Category 1: Shishu, which is for new businesses. Loans up to Rs 50,000 can be availed
  • Category 2: Kishor, which is a mid-aged business. Loans up to Rs 5 lakh can be availed
  • Category 3: Tarun, which is an existing, experienced business. Loans up to Rs 10 lakh can be availed.
  • Mudra scheme covers MSMEs such as Small Manufacturing Units, Retailers, Wholesalers, Artisans, and more.
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Design Clinic For Design Expertise To MSMEs

Design and innovation is critical for any sector, and every startup and MSME should have a design-centric approach to solve the problems of their niche. In order to encourage and inspire small businesses to experiment and try out new designs for their products, the MSME Ministry has created a Design Clinic for inducing design related expertise for startups and MSMEs.

Under this scheme, Govt will provide upto Rs 60,000 aid for attending design seminars and upto Rs 3.75 lakh or 75% of the cost of a seminar, wherein the entrepreneur and/or their team can learn and implement design theories and learn more about them. Via this program, entrepreneurs can know about the latest trends and practices related to designs, interact and network with other designers, entrepreneurs, and learn in-depth about design mentality and theories.

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Financial Support To MSMEs In ZED Certification Scheme

Focussed for existing and new manufacturing units, ZED or Zero Defect and Zero Effect mission is to encourage manufacturers to create better products, with high quality and zero defects. The focus is to enable manufacturers to embrace world-class manufacturing processes, and use technology to ensure that their products are best in the class.

Govt will provide both financial support, and technology and tools to ensure zero defects in their products.

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