MSME Innovative Scheme, Design component MSME Design
Pays most of the cost of hiring professional designers to create new products or design strategies, or of student design projects for an MSME.
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- Cost to apply
- Own share of 25% (micro) or 40% (small and medium) of project cost
- Status
- Open
- Run by
- Ministry of MSME, through implementing agencies such as design institutes
What you get
- Design projects get 75% (micro) or 60% (small and medium) of project cost from the government, up to ₹40 lakh
- Student design projects get 75% of cost, up to ₹2.5 lakh
- Grant paid in stages of 40%, 30% and 30%
Who can apply
- Businesses that are already running.
- Open to businesses in manufacturing and services.
- Micro, small and medium enterprises.
- The most on offer is ₹40 lakh.
- Udyam registration is needed. It is free.
- Manufacturing units should preferably have made a profit in at least one of the last three years
- Designer must be a qualified industrial designer with relevant experience
- Project should finish within one year
How to apply
- Submit the design project to a nominated implementing agency through the portal
- A project assessment panel reviews it and the ministry approves it
- Deposit your share with the implementing agency
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.