Kerala government to reimburse tech license fee to startups
- ByStartupStory | November 7, 2022
Not only are India’s promising new firms contributing to the development of a culture of innovation throughout the country, but they are also producing new employment opportunities. (This is a picture for representational purposes only) The state of Kerala in India has begun a programme that will compensate early-stage businesses in the state for the costs they incur in order to commercialise and scale up their products in order to obtain technological licences from government research institutes in the nation.
As part of the initiative known as the “Technology Transfer Scheme,” which is being carried out by the Kerala Startup Mission (KSUM), the state government has committed to reimbursing startups for up to ten lakhs of rupees if the startups purchase or source technology from government research institutions and then use that technology to create products that have the potential to be sold commercially. This reimbursement is part of the initiative known as the “Technology Transfer Scheme,” which is being carried out by the Kerala Startup Mission (KSUM
Anoop Ambika, the Chief Executive Officer of KSUM, said that this initiative would assist entrepreneurs in the state in having better access to the information that is required for translating their ideas into commercial commodities. Anoop Ambika stated that this programme will help entrepreneurs in the state.
KSUM said in a press release that it has extended an invitation to applications from businesses that are eligible to obtain the benefits that are given by the plan. KSUM claimed that it has extended the invitation.
“this is a highly profitable technique that will drive our firms to grow on their ideas without troubling themselves about the cost connected with doing so,” said Ambika.
As part of the fiscal assistance programme, ninety percent of the technology charge that startup companies pay to the research institutions from which technology licences are obtained or sourced will be refunded to those startup companies. This will allow the research institutions to focus their efforts on developing new technologies.
Using the KSUM portal, which can be located at https://tartupmission.kerala.gov.in/schemes/technology-commercialisation, qualified organisations that currently have an active registration with KSUM are able to submit online applications.
KSUM is the government of Kerala’s primary organisation for entrepreneurship development and incubation efforts throughout the state, and its name literally translates to “Kerala Startup Mission.”
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