IIT Kanpur, SIIC Hosts Program on MSME innovation scheme

Content Creator: Anil Kumar

IIT Kanpur: The World Association for Small and Medium Enterprises (WASME) and the Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur, with support from the Ministry of MSME, organized An Educational and One Day Awareness Program on Design Component of MSME Innovative Scheme at WASME. The program's goal was to empower MSMEs by giving them advice on how to take advantage of the scheme's potential.

The MSME Design Scheme is intended to assist MSMEs in all facets of design and assist them in accomplishing their objectives connected to design. It provides financial support up to Rs. 2.5 lakh for students engaged in design development and between Rs. 15 and 40 lakh for MSMEs. Dr. Riddhi Mahansaria, Manager of SIIC IIT Kanpur, oversees the initiative.

Prominent dignitaries including Mr. Rony Banerjee, advisor at EY, and Dr. Sanjeev Layek, government secretary of WASME, graced the occasion, providing a forum for considerate conversations at the subtleties of the MSME scene in India. Dr. Sanjeev Layek emphasized the importance of MSMEs to the Indian financial system and entreated members to efficaciously offer solutions and increase their influence by means of making use of this system. The importance of Design Thinking inside the method of developing new products changed into addressed through Mr. Rony Banerjee.


Highest package of IIT Kanpur

Particulars
Information (2023)
the highest package (PPO)
INR 4 crore per annum
the highest domestic package
INR 1.90 crore per annum
Students accepted job offers
1,128
No. of offers made
1,200


Every incubate corporation incubated at SIIC may additionally select one Industry mentor within six months from the date of joining incubation centre. In case the incubate opts for an enterprise mentor the incubate organisation has to offer minimum 1% of equity to the mentor as a consideration of mentorship.


 What is MSME?

MSMEs will be able to access guidance on all design-related topics thanks to the Design Scheme. It aids MSMEs in realizing and achieving their goals in relation to design. Experienced designers will offer this expert advise for developing new products and improving the portfolio of already-existing ones.


Which MSME innovation scheme is this?

In order to raise awareness among MSMEs about India's innovation and inspire them to become MSME Champions, MSME Innovative is a new idea for MSMEs that combines innovation in incubation, design intervention, & by protecting IPR in a single mode approach.


Who qualifies for the MSME program?

Who is qualified to register as an MSME? Applications for MSME registration are open to any organization that meets the MSME classification criteria for Micro, Small, and Medium-Sized Enterprises. An individual cannot apply for MSME registration.


To put it simply, what is an MSME?

Micro, Small, and Medium Enterprises is an acronym for these types of businesses. MSMEs fall under two categories as per the Micro, Small, and Medium Enterprises Development (MSMED) Act of 2006: Any industry that produces or manufactures goods is considered a manufacturing firm.


LIST OF SCHEMES

  • A credit-linked capital subsidy scheme designed to upgrade technology.
  • Reimbursement scheme and ISO 9000 certification
  • Participation in International Fairs.
  • Price Preference Policy and Purchase
  • Prime Minister's Rozgar Yojana- PMRY
  • Credit Guarantee Scheme.

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