New Delhi, Mar 15 (KNN) With an endeavor to promote innovation in the micro, small and medium enterprises (MSME) sector, the Ministry of MSME along with German International Cooperation (GIZ) is organizing a workshop series 'Financing for Innovation'.

GIZ has tied up with Global Innovation and Technology Alliance (GITA) and Small Industries Development Bank of India (SIDBI) and plan to organize it at 10 locations in first round over next 2-3 months. 

Ensuring availability of finance to carry out innovation activities/ buy available innovative technology is a major challenge for all size of firms; more so for small and medium enterprises (SMEs).

At the same time, there exists large number of support schemes and funding programmes targeted at SMEs. Central and State Government Ministries & Departments, Bilateral Science and Technology promotion agencies, Development Bank and International Development Agencies offer a range of funding instruments aimed at supporting SME’s pursuit of Innovation.  However SMEs find it difficult to access the available funds on account of limited awareness and complex application process.

“This has been designed to sensitize and create awareness amongst SMEs and supporting stakeholders such as chamber and associations, academia, innovation service providers and knowledge brokers about the available funding instruments for financing innovation including the funding opportunities for acquisition of Clean, Green & Energy Efficient Technologies,” GIZ said.

At the same time, it would also provide opportunities for the participants to directly engage with the agency responsible for implementation, it added.

Technology Acquisition & Development Fund (TADF) and bilateral funding mechanism by GITA (Global Innovation and Technology Alliance) and Credit line on Clean Tech and Energy Efficiency by SIDBI are the focus for this round.

First 2 workshops are scheduled in Aurangabad and Ranchi on March 16 and March 18 respectively. They are being organized in partnership with Chamber of Marathwada Industries and Agriculture (CMIA) and Jharkhand Small Industries Association. (KNN Bureau)