Page 13 - MMI - MayJune2022 small-single

blocks. Initiatives by the • Reimbursement of Prototyp- cal platforms in their business.
Indian Government, such as ing Costs: covers around 50 Under CLCSS, the Government
‘Make in India’ and other start- percent of total costs, equiva- provides a 15 percent subsidy
up programs, are providing pro- lent to approximately `10 lakh for an investment of up to `1
pulsion to manufacturing start- per year. crore to upgrade technology for
ups in India. • Patent Registration Incentive: startups and MSMEs in India.
The Government of Karnataka covers a maximum amount of The businesses that have in-
has provided incentives that `2 lakh for domestic registra- vested in technology using term
promote startups in the Elec- tion and `10 lakh for interna- loans borrowed from Public
tronics System Design & Man- tional registration. Lending Institutions can avail
ufacturing sector (ESDM) to • International Marketing the following benefits of CLCSS:
develop Karnataka into a global Incentive: Covers up to `5 • With a 15 percent subsidy
ESDM hub through the Karna- lakh annual amount for on the purchase of advanced
taka Electronics System De- two members. technology, the MSMEs’ loan
sign & Manufacturing (KESDM burden decreases.
2017-22) policy. The policy Technology is another • At the same time, their ef-
aims at stimulating the growth vital element ficiency increases, and the
of 2,000 ESDM startups by the Another pivotal element in the cost of production decreases,
end of 2022, thereby creating growth of the manufacturing resulting in maximized profit Startups
20 lakh new job opportunities, sector is Technology. Consistent and higher growth. require both
reaching US$40 billion in ESDM investment in avant-garde tech- • With the growth in rural in- monetary
revenues by 2025. nology is vital in maintaining dustries, employment oppor- and techni-
Following are the incentives by the quality to surpass the com- tunities increase, and living cal support
the Government of Karnata- petitors. The Government is pro- conditions for the entire lo- to overcome
ka that are adding value to the viding the tools and technologies cal population improve. the initial
roadblocks.
state’s startup ecosystem: to Indian startups and MSMEs to • Thanks to this unique Initiatives
• Research & Development compete with global peers. scheme, even micro, small, by the Indian
Grant: provides up to `2 crore The Government has launched and medium-sized indus- Government,
per year, twice during the pol- Credit Linked Capital Subsi- tries can now manufacture such as
icy period. dy Scheme (CLCSS) to promote high-quality products and ‘Make in
• Reimbursement of Quality Technology Upgradation. The compete globally. India’ and
Certification Costs: covers up to scheme provides financial as- • Credit linked capital subsidy other startup
50 percent of testing and certi- sistance to MSMEs to upgrade scheme is helping small-scale programs,
fication costs, equivalent to ap- their technology and imple- industries to adapt, scale, and are providing
proximately `10 lakh per year. ment avant-garde technologi- boost their production. propulsion
to manu-
facturing
startups
in India.

Source: Magic Wand Media

May-June 2022 | 13
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