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International Policy Workshop for MSMEs on “Innovation Voucher” to be conducted on Nov 24-25 in New Delhi

Updated: Nov 03, 2016 09:25:11am

International Policy Workshop for MSMEs on “Innovation Voucher” to be conducted on Nov 24-25 in New Delhi

New Delhi, Nov 3 (KNN) GIZ jointly with Office of DC-MSME, Ministry of MSME and in partnership with FISME and TFSC is organizing an international policy workshop on “Innovation Voucher” in the national capital on November 24-25, 2016.

The first day has been designed to understand and analyze the design, structure, different implementation mechanisms as well as different approaches, success stories and risks involved in implementing Innovation Vouchers. The day two is devoted to analyze the appropriateness, feasibility of Innovation Voucher for India and develop a roadmap for a potential adaptation of the instrument.

With confirmed participation of Indian and International speakers from Germany, Austria & Sweden; it is expected to give stage to different viewpoints and experiences with the instrument.

Innovation Vouchers are used world-wide. Compared to other conventional instruments, it approaches the support to SME from a different angle - rather than supporting entrepreneurs on a pre-decided area.

The Innovation Voucher concept aims to encourage entrepreneurs to come forward with their own ideas – where they want to innovate and with whom they want to cooperate.

A paper, published by the OECD in 2010 on innovation vouchers explains it “as small lines of credit provided by governments to SMEs to purchase services from public knowledge providers with a view to introducing small-scale or incremental innovations (new products, processes or services) in their business operations”.

The paper further identifies two major impacts of innovation vouchers, both seeking to overcome major incentive barriers to the usual engagements between SMEs and knowledge providers.

While the voucher on the one hand motivates SMEs to approach knowledge providers with their innovation-related problems - something that they might not have done in the absence of such an incentive, the voucher also provides an incentive for public knowledge providers to work with SMEs, although they usually tend to work with bigger corporates.

The workshop is conducted within the framework of the Indo-German Bilateral Development Cooperation programme on “Innovation Promotion in MSMEs”; jointly implemented by Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH and the office of DC MSME, Ministry of Micro, Small and Medium Enterprises (MoMSME), Government of India. (KNN Bureau)


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