Kerala has started a programme to pay back startup businesses’ costs for obtaining technological licences from national government research organisations so they can market and expand their products.
The government will reimburse entrepreneurs up to Rs 10 lakh under the “Technology Transfer Scheme” scheme, run by Kerala Startup Mission (KSUM), for buying or obtaining technology from government research institutions and using it to create items that might be put on the market.
Anoop Ambika, the CEO of KSUM, claimed that this programme will give companies in the State easier access to the knowledge needed to transform their concepts into commercially viable solutions.
In a press statement, KSUM stated that it has solicited submissions from qualified companies to take advantage of the program’s benefits.
The Kerala government’s nodal agency for entrepreneurship development and incubation initiatives is known as KSUM.
The KSUM site is where qualifying entrepreneurs with an active registration with KSUM can submit their online applications.
This extremely lucrative programme will motivate our startups to create without worrying about the associated costs, according to Ambika.
90% of the technology fee paid by startups to the research institutes where technology licences are obtained or sourced will be repaid as part of the fiscal support programme.