Due to expensive research and development, many business ideas fail.
Research happens in labs and institutions, but products do not reach till markets.
To fill the gaps between research and business, the government launched the Multiplier Grants Scheme.
The government would support it directly with grants of 2 crore per project and consortium would get up to 4 crore. The project duration should be 2 to 3 years.
Funds are released directly to academic or R&D institutions.
The Multiplier Grant Scheme is a government scheme by the Ministry of Electronics and Information Technology to support research and innovation in India. It encourages industries and academic institutions to work together on technology projects and new inventions.
Under this scheme, when a private company invests money in a research project, the government provides additional funding as a “multiplier grant.” This increases the total support available for innovation and product development.
Objectives
* Promote research and development in India
* Encourage industries and academic institutions to work together
*Support innovation and new technology projects
*Increase private sector investment in research
*Develop products and solutions useful for society and business
*Strengthen India’s technology and startup ecosystem
*Create skilled jobs and improve technological growth in the country
Eligibility
*Indian companies and industries
*Recognized research institutions and universities
*Projects related to IT sector & Electronic
*Joint projects between industry and academic/research organizations are preferred.
