PRISM Scheme by Ministry of Science & Tech

Union Minister for Science & Technology inaugurated the PRISM (Promoting Innovations in Individuals, Startups, and MSMEs) scheme recently.

About PRISM Scheme:

PRISM is an initiative of the Department of Scientific and Industrial Research(DSIR), Ministry of Science and Technology.
To help an individual innovator to become a successful technopreneur.
It promotes, supports, and funds implementable and commercially viable innovations created for society.
Under the initiative, an innovator of Indian nationality – student, professional and common citizen is eligible.
Eligible candidates are provided with technical, strategic, and financial assistance by DSIR-PRISM.
- Assistance is provided in the stages like idea development, prototype development, and pilot scaling and patenting.
The proposals under the scheme will be accepted for the following sectors:
- Green technology
- Clean energy
- Industrially utilizable smart materials
- Waste to Wealth
- Affordable Healthcare
- Water & Sewage Management and
- any other technology or knowledge-intensive area.
Financial Assistance: The grant under the scheme is given in two phases:
- Phase I:
  - Category-I: For proof of concept/prototype/models, a grant amount of around Rs. 2 lakhs to Rs. 20 lakhs.
  - Category II: For fabrication of working model/ process know-how/ testing, a grant amount of around Rs. 2 lakhs to Rs. 20 lakhs.
- Phase II: For Enterprise incubation, a grant amount of a maximum of around Rs.50 lakhs.

Source: PIB

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