Kerala start-ups to get reimbursement upto Rs 10 lakh on Tech purchase from Govt R&D institutions

Thiruvananthapuram, Nov 7 (KNN) The Kerala government under the Technology Transfer Scheme have decided to reimburse upto Rs 10 lakh to start-ups purchasing or sourcing technology from government research institutions and working on them to develop products that could be commercialised.

The project titled 'Technology Transfer Scheme', is being implemented through Kerala Start-up Mission (KSUM).

Speaking about the State government’s initiative, KSUM CEO, Anoop Ambika, said “this scheme will help start-ups in the State to gain greater access to know-how required for turning their ideas into marketable products.”

"This is a highly rewarding scheme that will encourage our start-ups to innovate on their ideas without bothering about the cost involved," Ambika said. 

As part of the fiscal support scheme, 90 per cent of the technology fee paid by start-ups to the research institutions from where technology licenses are purchased or sourced will be reimbursed.

The Kerala start-up mission has invited applications from eligible start-ups to avail the benefits offered by the scheme, an official press release said.

The eligible start-ups with an active registration with KSUM can submit online applications via the KSUM portal.  (KNN Bureau)