New Delhi, July 3 (KNN) Union Minister of State for Science and Technology Jitendra Singh said that that ‘StartUps Intellectual Property Rights Protection’ scheme is aimed at promoting innovation and entrepreneurship.

Addressing the inaugural address at the ‘National Intellectual Property Festival, Singh said, “the filing of Intellectual Property Rights (IPR) including Patents and Trademark by StartUps, along with Industry linkages will encourage innovation and motivate enterprise in India.”

“Soon after this, 'StartUps Intellectual Property Rights Protection' scheme was brought in, which envisages 80 per cent rebate in patent filing and 40 per cent -50 per cent rebate vis-à-vis the Industry and the companies,” the Minister said.

Singh pointed out that you can couple the StartUps, eg. you have the Mudra scheme, which offers you a loan of 10-20 lakhs without any gratuity, mortgage, almost interest free.

Government launched the scheme, Startups Intellectual Property Protection (SIPP) for encouraging innovation and creativity of startups. 

Under the new Trademark Rules, Startups have been given a 50 per cent rebate in filing fees compared to other companies.

Even for promotion of registration of Industrial Designs by StartUps as per the new design amendment rules 2021, the government has reduced filing and prosecution fees for small entities.

The event was organised by the CSIR at the National Physical Laboratory in New Delhi.  (KNN Bureau)