Govt has launched MSME Innovative Scheme

On Thursday, the Ministry of the Micro, Small, and Medium Enterprise (MSME) has launched a new MSME Innovation Scheme. This new MSME innovation scheme is comprised of three components- Incubation, Design, and Intellectual Property Rights (IPR). The Ministry in its statement said, “The scheme will create awareness amongst MSMEs about India’s innovation and motivate them to become MSME Champions. It is a holistic approach to unify, synergise and converge 3 sub-components and interventions with a single purpose,” This new scheme is launched with a vision to boost innovation and development of ideas into a feasible business operations. Minister of MSME, Narayan Rane launched this scheme. He said: “MSMEs have an important role to play in Atmanirbhar Bharat. The scheme will help entrepreneurs in developing new ventures.” Bhanu Pratap Verma, Minister of State (MoS), MSME, at this event said:  “MSME Innovation Scheme will promote and support untapped creativity of the sector.”