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Innovation Voucher Programme (IVP)

09-Dec-2022 12:36:53
Funding

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Scheme Provider :
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Department of MSME

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Sector :
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Funding, Business Development Services

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States :
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Tamil Nadu

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Eligibility :
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Entrepreneurs

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Vertical :
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Product and technology, Financial assistance

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Link for enrollment :
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https://www.editn.in/innovation/InnovationUsers/login
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Link to scheme information :
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https://www.editn.in/pages/view/ivp
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Link to government website :
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https://www.editn.in/pages/view/ivp -
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Details :
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The Government of Tamil Nadu has initiated the Innovation Voucher Programme (IVP), a grant-in-aid scheme to encourage research and innovation among MSMEs and start-ups in the manufacturing sectors. This scheme envisages to leverage the strengths of academic and research institution as Knowledge Partners (KPs) to support MSMEs, in innovation. -This scheme is implemented through the Entrepreneurship Development and Innovation Institute (EDII),an autonomous institution of the Government of Tamil Nadu. Modelled on international best practices, the IVP encourages the MSMEs and start-ups to utilize the services of a knowledge partner for furthering their innovative enterprises at the stage of pre-development and product or process development activities using two types of vouchers: ‘Voucher A’ and Voucher B’. -Voucher A: can be utilized for innovation potential analysis prior to the development of a new product or Production process, including but not limited to creation of Technology road map, market research, Product feasibility studies, Financing plan, Technology Audit, Material studies, Design studies, Research and Development (R&D)for creating a new product or process. The Grant under this voucher is 80% of the product cost to the maximum of Rs.2.00 lakhs. -Voucher B: can be utilized to promote an existing or early stage company to quickly assessing potential markets by developing an innovative commercial product and includes activities leading to not limited to : Service engineering Prototyping, Design services, Technology Transfer and IP procurement, Product testing, Quality Assurance, validation and certification, Project Management. The grant under this voucher is 50% of the product cost to the maximum of Rs 5.00 lakhs.

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Introduction :
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Benefits :
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Gender :
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Female, Other

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Implementing Agency :
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Entrepreneurship Development and Innovation Institute (EDII)

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Target Audience :
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Entrepreneurs

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Primary Domain :
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Funding

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Secondary Domain :
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Business Development Services

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Relevant schemes (6)

Integrated Cold Chain and Value Addition Infrastructure

MMSME Champions scheme

Self Reliant India (SRI) Fund - Empowering MSMEs for Aatmanirbhar Bharat

Training Scheme

Grant-in-aid to Voluntarv and other Organizations for Scheduled Castes

Assistance for Skill Development of Other Backward Classes (OBCs)/ De-Notified, Nomadic And Semi-Nomadic Tribes (DNTS)/ Economically Backward Classes (EBCs)

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Integrated Cold Chain and Value Addition Infrastructure

The objective of the Scheme of “Integrated Cold Chain and Value Addition Infrastructure” is to provide integrated cold chain and preservation infrastructure facilities, without any break, from the farm gate to the consumer. It covers creation of infrastructure facility along the entire supply chain viz. pre-cooling, weighing, sorting, grading, waxing facilities at farm level, multi product/multi temperature cold storage, CA storage, packing facility, IQF, blast freezing in the distribution hub and reefer vans, mobile cooling units for facilitating distribution of non-horticulture, horticulture, fish/marine(except shrimp), dairy, meat and poultry. The scheme allows flexibility in project planning with special emphasis on creation of cold chain infrastructure at farm level. - -The integrated cold chain project can be set up by Partnership / Proprietorship Firms, Companies, Corporations, Cooperatives, Self Help Groups (SHGs), Farmer Producer Organizations (FPOs), NGOs, Central / State PSUs, etc. subject to fulfilment of eligibility conditions of scheme guidelines. - -Pattern of Assistance -- Financial assistance (grant-in-aid) under the scheme is limited to a maximum of Rs 10 crore per project in relation to technical civil works and eligible plant & machinery subject to the following: -- For storage infrastructure including Pack House and Pre cooling unit, ripening chamber and transport infrastructure, grant-in-aid @ 35% for General Areas and @ 50% for North East States, Himalayan States, ITDP Areas & Islands, of the total cost of plant & machinery and technical civil works will be provided. -- For value addition and processing infrastructure including frozen storage/ deep freezers associated and integral to the processing, grant-in-aid @ 50% for General Areas and @ 75% for North East States, Himalayan States, ITDP Areas & Islands, will be provided. -- For irradiation facilities grant-in-aid will be provided @ 50% for General Areas and @ 75% for North East States, Himalayan States, ITDP Areas & Islands. - -Release of Grant -The grant-in-aid under the scheme is released in three instalments of 25%, 40% and 35% as per following schedule: -- 1st installment of 25% of the total grant under the scheme is released after ensuring that 25% of the promoter’s contribution and 25% of the term loan has been spent on the project; -- 2nd installment of another 40% of the total grant is released after ensuring that utilization of first installment of grant, 65% of promoter’s contribution & 65% of term loan; -- 3rd and final installment of remaining 35% of the grant assistance is released after ensuring utilization of the second installment and 100% of promoter’s contribution and 100% of term loan.

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