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DSIR to finance SMEs in research

New Delhi, Mar 25 (KNN) The Department of Science and Industrial Research (DSIR) will be financing the small and micro enterprises (SMEs) in carrying out research to enable them to acquire technology patent.

Loan for such research will come under the Paten Acquisition and Collaborative Research and Technology Development (PACE) scheme for funding development and demonstration of innovative product, traversing the laboratory stage to pilot stage, ready to be launched for commercialization. 

DSIR wants to assist the SME companies in acquiring technology patent for a particular technology, ascertained through interactive workshops.

“If any company wants to acquire the technology on an exclusive basis, DSIR shall support 50 per cent of the value of technology (to be ascertained through consultation with an expert committee) to be acquired, not exceeding Rs 1.50 crore, which will be in the form of a secured loan,” said a statement.

In this context, the department has invited bids from domestic SME entities which are DSIR recognized in-house research and design unit for financial support- third batch.

PACE has an objective to support Indian industries to acquire patented technology at an early stage from within the country or overseas on an exclusive as well as non-exclusive basis, add value to the acquired technology for exploitation in domestic and global markets and develop “Made in India” innovative and socially relevant products for public consumption in India and abroad.