Innovation Voucher categories:
Validity period of IVs
The validity period of an innovation Voucher will be 12 complete months from the date of issue. As the purpose of this program is to solve relatively small technological problems or scope out larger technological issues it is believed that a one year time period is largely sufficient and hence the validity.
Funding support will be as follows:
Voucher A : 80% of the Knowledge Partner’s cost for approved activities, subject to a maximum of INR 2 lakhs for idea validation i.e techno commercial feasibility for implementation of new ideas as well as for development of technological and innovation road-map for the company
Voucher B : 50 % of the Knowledge Partner’s cost for approved activities, subject to a maximum of INR 5 lakhs for implementation of product /process /business model innovation project.
Further, IVs are not transferable and projects of estimates less than Rs 1 lakh will not be considered. Any estimate of costs in excess of the IV value or escalation of costs will be met by the applicant.
IVP is open to all manufacturing or service MSME/ Startup willing to innovate and improve their business. However the following eligibility conditions need to be met:
Application Flow Download
Evaluation Criteria Download
Eligible Expenditures Download