Startup Ecosystem
Ministry of Mines Invites Startups and MSMEs for Research and Innovation in Mining Sector
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ByStartupStory | November 15, 2023
The Ministry of Mines has announced plans to solicit proposals from startups, micro, small, and medium enterprises (MSMEs), as well as individual innovators to foster research and innovation in mining, mineral processing, metallurgy, and recycling.
The chosen startups and MSMEs will receive mentorship, incubation support, and technical advisory assistance throughout the project development period.
Additionally, successful applicants will benefit from two years of post-technical completion incubation support provided by a facilitation and mentorship team. The government aims to boost research and innovation in the mining sector through the newly released guidelines for the ‘promotion of Research and Innovation in Startups and MSMEs in mining, mineral processing, metallurgy, and recycling sector (S&T-PRISM).’
Proposals will be sought from startups, MSMEs, and individual innovators for projects lasting up to two years, focusing on the mineral sector’s applied and sustainable aspects in mining and industrial applications.
The objective is to empower these entities to advance to a stage where they can attract investments or secure loans from commercial banks and financial institutions. The funding initiative acts as a crucial bridge between the developmental phase and the commercialization of innovative technologies, products, and services, streamlining the process for startups and MSMEs in the mining domain.
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