- Financial Express
"Govt approves financial assistance for MSME ideas, reimbursing trademarks, patents,
Financial assistance worth an estimated Rs 34 crore has been approved for various ideas and patents by MSMEs in the current financial year, said Minister of State for Micro, Small, and Medium Enterprises Bhanu Pratap Singh Verma in a written reply to a question in the Lok Sabha. Overall, 257 ideas under MSME Idea Hackathon 2022, reimbursement of 1196 Trademarks, 186 Patents, 53 Designs, and 11 Geographical indications (GIs) have been approved for a financial grant in FY23.
The assistance has been approved for innovation, design, and protection of Intellectual Property Rights (IPR) in the MSME sector under the ‘MSME Innovative’ component of the MSME Champions Scheme launched by MSME Minister Narayan Rane in March this year. The hackathon was also launched alongside the scheme.