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Union Minister for MSME, Narayan Rane has announced the MSME Innovative Scheme (Incubation, Design, and IPR) as well as the MSME IDEA HACKATHON 2022. Shri Rane, speaking on the occasion, stated that MSMEs play an essential role in Atmanirbhar Bharat. He claims that these programmes will assist entrepreneurs in launching new businesses.

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  • MSME Innovation” Scheme, according to the Minister of State for MSME Shri Bhanu Pratap Verma, will develop and foster latent innovation in the MSME sector.
  • During the opening of the MSME Innovation Scheme, Shri B.B Swain, Secretary MSME, made the keynote address, stating that it will serve as a hub for innovation activities, facilitating and directing the development of ideas into viable business propositions that benefit society directly.
  • MSME Innovative is a comprehensive approach that unifies, synergizes, and converges three sub-components and interventions to achieve a single goal.
  • MSME Innovative is a novel idea for MSMEs that combines incubation, design intervention, and IPR protection in a single-mode approach to raise awareness about India’s innovation and drive MSMEs to become MSME Champions.
  • This will serve as a focal point for innovation efforts, enabling and leading the transformation of ideas into viable business propositions that benefit society and can be successfully commercialised.

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