Innovative ideas and technological advancement are the products of an efficient Research and Development Department. However, funding this department is generally heavy on a company’s overheads. Here’s where the R&D Funding scheme offered by the Department of Electronics and Information Technology (DeiTy) comes into the picture.
The R&D Funding Scheme provides funds to an SME in the areas of Research and Development, and technical collaboration The funding provided varies depending upon the total cost of the project.
How does an SME benefit from this scheme?
The fund sanctioned for the Research and Development department of an SME helps it in the following ways:
- Current product modifications
- Creation of new products
- Implementation of better technologies
- Development of a secure future in advance of business needs
- Improved processes and enhanced performance
- Launch of smarter ideas
- Access to newer markets
- Reduce product costs
What is the eligibility criteria for this scheme?
- The SME must be in existence for at least two years from the date of incorporation
- The SME/institution/firm should be registered under ISO 9001:13485
How can an SME apply for this Scheme?
- The SME can apply for this scheme to DeiTy in the prescribed pro forma.
Which documents are required to apply for this scheme?
The following are the documents required to apply for this scheme:
- Title of the Project
- Information about the SME (Name, Address, Legal status)
- Details regarding the Chief Investigator
- Nature of the Project
- Objective of the Project
- Brief outline of the Project
- Expected outcome in physical terms
- Agency with which link up is established/proposed
- Duration of the Project
- Year-wise break-up of physical achievements with specific intermediate milestones (in terms of aims and objectives)
- Likely end users
- Name of the SMEs participating jointly in the project
- Total budget outlay
- Contribution of project implementing/and other organisation in total budget outlay, DeiTy contribution
- Wherever applicable – share of the industry, collaborating agency, and any other assistance along with DeiTy’s support required in total cost of project should be provided under various budget heads
- Annual reports, Company brochure, Brief history of the electronics company including products being made, capacities, related collaborators, achievements, and capabilities need to be provided if necessary
- Recent major achievements of in-house R&D unit of the electronics company in development of new products/processes, technology export, patents taken, and whether in-house R&D unit of the firm is recognised by DSIR
- Any other information in support of the proposal
Additionally, the details of the proposal should also contain the following –
- Background information
- Technical information
- Financial details