The new industrial policy has interesting provisions with regard to patent reimbursement and technology acquisition.
Biotechnology
• 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
Biotechnology
• 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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