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Thursday, April 02, 2015

AP Industrial Policy: patent reimbursement and technology acquisition

The new industrial policy has interesting provisions with regard to patent reimbursement and technology acquisition.
 Technology acquisition fund of USD 1.6 Million to be set up. Additional interest subsidy @ 3% per annum on term loans towards purchase of capital equipment necessary for technology upgradation for a period of 5 years, subject to maximum of USD 4800 per year to MSME units
• Financial Assistance towards expenses incurred for patent registration limited to 75% of the cost, subject to maximum of USD 40,000/-
• Promotion of innovation and applied R&D in research and academic institutions to be done by co-financing industry sponsored research, collaborative research grant and scholarships.

Automobile/ Auto components

  • 75% reimbursement of the Patent Cost, subject to a maximum of USD 40,000 and 50% of all charges, subject to a maximum of USD 8000 for obtaining patent registration

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