Other Projects
“Promoting Innovations in Individuals Start-Ups and MSME” (PRISM): Is the erstwhile “Technopreneur Promotion Programme” (TePP). TePP is an initiative of Department of Science and Technology, Govt. of India to transform an individual innovator into a successful Technopreneur by promoting, supporting, funding untapped creativity of individual innovators. “TePP” was launched by the Ministry of Science and Technology in 1998-99 and was jointly operated by the Department of Scientific and Industrial Research (DSIR) and Technology Information, Forecasting and Assessment Council (TIFAC) of the Department of Science and Technology (DST) but at present it is operated by DSIR alone since May 2008. PRISM is for budding students, professionals and common citizens interested in innovation and having an implementable and commercially viable, novel innovation. An innovator of Indian nationality, interested in innovation is provided Grant –in-aid support by PRISM DSIR for prototype development and commercialization subject to completion of sanction of project which includes evaluations, technical and financial viability as well as commercially viable analysis. PRISM -DSIR also helps the innovators to get acquainted with the fundamentals of patenting as well as technical and strategic assistance in idea development. In 2014 IIT-Kharagpur has been selected as TePP Outreach cum Cluster Innovation Centre for PRISM.
Technology Incubation and Development of Entrepreneurs (TIDE): Center at IIT, Kharagpur has clear policy and a transparent process for selection of companies for incubation. The selection is being done on the basis of a detailed techno-commercial proposal which includes a viable business plan which is submitted by entrepreneur(s) At next level the proposal is subjected to evaluation on the basis of its technical merit and commercial viability by a committee of technical experts who recommend the level and duration as well as terms of support to the prospective entrepreneur(s).
Micro Small and Medium Enterprises (MSMEs): Have been accepted as the engine of economic growth and for promoting equitable development. The major advantage of the sector is its employment potential at low capital cost. The labour intensity of the MSME sector is much higher than that of the large enterprises. The MSMEs constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports. In India too, the MSMEs play a pivotal role in the overall industrial economy of the country. In recent years the MSME sector has consistently registered higher growth rate compared to the overall industrial sector. With its agility and dynamism, the sector has shown admirable innovativeness and adaptability to survive the recent economic downturn and recession.
Technology Development Board (TDB): Is another arm of the DST mandated with providing capital support to the incubated companies. The funding support is made available to the start-ups of the business accelerators to promote the speedy scale-up of companies in the business incubator. Funding support is available at lower rates charged by banking and other financial institutions.