• The MSME Design Scheme provides grants ranging from Rs. 15 to 40 Lakh for MSMEs and up to Rs. 2.5 Lakh for students engaged in design development, and is supervised by Dr. Riddhi Mahansaria, Manager at SIIC, IIT Kanpur

Kanpur/Noida, 12 February, 2024: The Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur, in collaboration with the World Association for Small and Medium Enterprises (WASME) and supported by the Ministry of MSME, hosted an informative one-day Awareness Program on the DESIGN component of the MSME Innovative Scheme at WASME. The program aimed to empower MSMEs by providing insights into leveraging opportunities offered by the scheme.

The Design scheme will assist MSMEs in seeking assistance on every aspect of design. It enables MSMEs to develop and fulfill their design-related objectives. The MSME Design Scheme provides grants ranging from Rs. 15 to 40 Lakh for MSMEs and up to Rs. 2.5 Lakh for students engaged in design development, and is supervised by Dr. Riddhi Mahansaria, Manager at SIIC, IIT Kanpur.

The programme commenced with a dynamic presentation by Dr. Riddhi Mahansaria, Manager at SIIC, IIT Kanpur. She outlined critical aspects of the program, offering valuable insights into harnessing the potential of the MSME Innovative Scheme. Additionally, she emphasized innovative solutions deployed in the market by previous beneficiaries, including Phool.co startup, Culture, Primary Healthtech, and other startups.

Commenting on this, Prof. Ankush Sharma, Professor In-charge, Start-up Incubation and Innovation Centre, IIT Kanpur, said, "Through our collaborative efforts with WASME and the Ministry of MSME, this program serves as a foundation in empowering individuals with adequate knowledge and relevant resources to strengthen their business ventures. By providing mentorship, infrastructure, and a nurturing environment, SIIC aims to contribute to the support of the ' Aatmanirbhar Bharat' mission."

The event, graced by prominent dignitaries including Dr. Sanjeev Layek, Executive Secretary of WASME, and Mr. Rony Banerjee, Advisor at EY, provided a platform for insightful discussions on the nuances of the MSME landscape in India and the potential benefits offered by the MSME Innovative Scheme. Dr. Sanjeev Layek highlighted the vital contribution of MSMEs to the Indian economy, encouraging participants to efficiently develop solutions and enhance their impact through the scheme. Mr. Rony Banerjee discussed the significance of Design Thinking in the product development journey, highlighting its essential role for MSMEs in understanding scheme requirements and effectively identifying problem statements.

The event concluded on a high note with enthusiastic participation from MSMEs and individuals who pitched their ideas for potential application under the scheme.

About SIIC, IIT Kanpur:

The Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur is one of the oldest and most established incubators in India. It was founded in 2000, during a time when the entrepreneurial ecosystem in the country was still in its infancy. Over the past two decades, the incubation ecosystem at IIT Kanpur has grown and flourished, providing support and guidance to those looking to turn their ideas into successful and meaningful business models. The combination of domain expertise and top-notch infrastructure has led to tremendous social impact and technological advancement over the years.