Entrepreneurship Development and Innovation Institute (EDII)
Department of MSME Government of TamilNadu
(A support program for promoting Innovation in MSME/Startup through enhanced linkages with Research and Technology Development Service Providers)
Objectives of Innovation Voucher Program (IVP)
- To increase the innovation capacity of Micro, Small and Medium Enterprises to turn ideas into innovative products or services that are commercial business successes.
- To encourage & sustain collaboration between industry, academia and government industry.
- To raise the level of awareness and participation of MSME in science and innovation.
- To encourage Startups take up industrially and small industries related innovation which are practically applicable and push startups with innovative ideas to suit MSME needs.
Innovation Voucher categories:
- Voucher A – Entry into Research (for converting the idea into working prototype)
Voucher-A shall be used for Innovation Potential Analysis prior to development of a new product or production process, which includes, but not limited to: - Technology roadmap and market research
- Feasibility studies, Financing plan & Technology Audit
- Material studies
- Design studies
- Tailored training on innovation management
- R&D for development of a new product, process or service
- Voucher – B - Entry into market (for commercialization support)
Voucher-B is to be used to promote existing or an early stage company in quickly accessing potential markets by developing an innovative commercial product and includes activities leading to not limited to:
- Service engineering
- Prototyping
- Design services
- Technology Transfer & IP procurement
- Product testing, QA, validation and certification Project management
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
Funding support will be as follows:
Voucher A : 80% of the total budget 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 total budget 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.
Eligibility Criteria
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:
- Should be a manufacturing MSME/ STARTUP.
- Be registered and located in Tamil Nadu.
- Willing to co-finance the innovation investment as per IVP norms
IVP Application Forms & Details
|
Reference Details Application Flow Download |
Online Application format for reference Application Voucher Download Presentation Format Download Project Milestone Format Download Project Estimated Cost Format Download |
Knowledge Partner (Mentor/Expert - KEC Faculty) Proposal Submission Form Download |
Note:
- The applications received under the program, are subject to due diligence of screening process.
- Screening will also be subject to the parameters other than the eligibility, such as Innovation, Potential for commercialization and startup creation, Team capability and Commitments etc.,
- Screening of applications will be done during the 2 nd week of every month.
- The EDII sanctioned applicants will have to agree for Incubation with TBI@KEC as per its policy/terms.