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SIP-EIT scheme for providing financial support to start ups and MSMEs

SIP-EIT a scheme initiated by Deity for providing financial support to start ups and MSMEs to strengthen their competitiveness through innovation and its protection.

 

Ministry of Electronics & Information Technology, Government of India has launched a scheme SIP-EIT – Support for International Patent Protection in Electronics and & Information Technology, to provide financial support to MSMEs and Technology Start-up units for international patent filing to encourage innovation and recognize the value and capabilities of global IP along with capturing growth opportunities in ICTE sector. In addition, to sensitize and create IP awareness and to disseminate the scheme among stakeholders, a scheme to support IPR awareness is also proposed as the second component of the scheme.

 

Key Pointers –

  • Reimbursement will be limited to a total of Rs 15.0 Lakhs per invention or 50% of the total expenses incurred in filing and processing of patent application up to grant whichever is lesser.

 

  • The company must be registered with the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 of Government of India. The applicant must be a registered company following the Companies Act of Government of India and must fulfil the investment limits in plant and machinery or equipment as defined in the MSMED Act 2006 as amended from time to time.

 

  • A company to be a registered Software Technology Park unit and its amount of investments in PME must be lower than the limits specified under the MSMED Act, 2006.

 

  • A company must be a technology incubation start-up or an enterprise or located in an incubation centre/park and registered as a company. A start-up must also have a certification from the incubation centre/park in case it is located on such premises. These companies, too, have to meet the investment limits for PME defined under the MSMED Act, 2006.

 

  • The applicant can apply for the support at any stage of international patent filing. However, reimbursement will only be applicable to expenditures incurred from the date of acceptance of complete application by deity subject to approval of competent authority.

 

  • In respect of ownership of the patent, the application filed in the name of owner may also be considered and the applicant may be asked to assign it to the company after Deity’s approval to provide support under SIP-EIT-II scheme, however the individual at the time of applying under SIP-EIT-II scheme must be an existing employee or should be in the Board of Directors of the company.

 

  • One application for foreign filing in all countries for a particular invention will only be considered under the scheme.

 

  • This is a pure grant subject to approval by deity and no stake in the supported patent is envisaged under the scheme.

 

Procedure to Apply Online –

Step I)  Go through the brochure thoroughly, and make sure that you fall under the eligibility criteria.

Step II)  In order to apply, you need to create a Login ID, which would be used in further communications.

Step III)  After you have created your user account, you can Login and Apply Online for the Scheme. Before proceeding to apply online, kindly make sure that you have read the Guidelines thoroughly and also checked the List of documents to be uploaded during filling up of the online application form.

 

VISIT SITE!

– Authored by Genia Jain

  Content Developer, StartupMonk

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