Innovation Voucher Programme encourages the MSMEs and start-ups to utilize the services of a knowledge partner for furthering their innovative enterprises at the stage of pre-development and product or process development activities.
Objective
Innovation Voucher Programme (IVP) is a unique State Government initiative to promote research and innovation among MSMEs/Start-ups from Agriculture, Environment, Energy, Horticulture, Veterinary, Fisheries, Engineering, Waste Management, Health, Automobiles, Nano-Technology, Electronics, Deep technology, etc.
Key Benefits
Grant upto Rs. 3 lakhs under Voucher A for converting the Idea into working Prototype
Grant up to Rs. 7 lakh under Voucher B for commercialization support.
Eligibility Criteria
MSME/start-up in Tamil Nadu with research idea approaches Knowledge Partner (KP).
MSME and KP agree on research and KP provides a cost quotation.
MSME applies to EDII for grant.
EDII evaluates proposal through technical and steering committees.
Upon clearance, MSME/start-up and KP sign tripartite agreement.
EDII releases funds directly to KP in three installments.