SBB480

Promoting Innovations in Individuals, Startups and MSMEs (PRISM)

PRISM supports startups through two phases of funding for innovation projects. Phase-I offers financial assistance for proof of concept and prototype development, while Phase-II focuses on enterprise incubation, providing substantial funding based on project costs and eligibility criteria.

Central

States / UT: All India

Ministry / nodal: Ministry of Science & Technology

Department: Department of Scientific and Industrial Research

Nodal department: Department of Scientific and Industrial Research

Scheme for: Startups

Scheme profile

DBT (direct benefit transfer): No

Target beneficiaries: Startups

Tags: startups, Science and Technology

Details

Brief

The scheme provides grants, technical guidance, and mentoring to individual innovators by incubating their ideas towards the creation of new enterprises in phases. It also provides grant-in-aid support to technology solution providers developing technology solutions aimed at helping MSME clusters. The scheme runs in two phases.

Eligibility

  • The scheme runs in two phases.
  • For PRISM I, any Indian citizen including student innovators can apply.
  • For PRISM II, PRISM innovators or innovators who have successfully demonstrated proof of concept with the support of government institution/agency, PRISM-R&D proposals and public-funded – R&D institutes/autonomous institutions/laboratories/academic institutes, etc. are eligible.

Benefits

  • - PRISM Phase-I Category-I: For proof of concept/prototype/models, with a project cost up to INR 5 Lakhs, a maximum of INR 2 Lakhs or 90% of the total project cost (whichever is less) is provided
  • PRISM Phase-I, Category-II: For fabrication of a working model/process know-how/testing & trial/patenting/technology transfer, etc. with a project costing between INR 5 Lakhs to INR 35 Lakhs, a maximum of INR 20 Lakhs or 90% of the total project cost (whichever is less) is given
  • Prism-Phase-II: Enterprise incubation, with a project costing between INR 35 Lakhs and INR 100 Lakhs, up to INR 50 Lakh limited to 50% of the total project cost is provided. For PRISM-R&D Proposals, up to INR 50 Lakhs limited to 50% of the total project cost is given
  • PRISM Phase-I Category-I: For proof of concept/prototype/models, with a project cost up to INR 5 Lakhs, a maximum of INR 2 Lakhs or 90% of the total project cost (whichever is less) is provided.
  • PRISM Phase-I, Category-II: For fabrication of a working model/process know-how/testing & trial/patenting/technology transfer, etc. with a project costing between INR 5 Lakhs to INR 35 Lakhs, a maximum of INR 20 Lakhs or 90% of the total project cost (whichever is less) is given.
  • Prism-Phase-II: Enterprise incubation, with a project costing between INR 35 Lakhs and INR 100 Lakhs, up to INR 50 Lakh limited to 50% of the total project cost is provided. For PRISM-R&D Proposals, up to INR 50 Lakhs limited to 50% of the total project cost is given.

Eligibility

  • The scheme runs in two phases.
  • For PRISM I, any Indian citizen including student innovators can apply.
  • For PRISM II, PRISM innovators or innovators who have successfully demonstrated proof of concept with the support of government institution/agency, PRISM-R&D proposals and public-funded – R&D institutes/autonomous institutions/laboratories/academic institutes, etc. are eligible.

Application Process

Online / portal

Official application / information link: https://www.indiascienceandtechnology.gov.in/funding-opportunities/startups/promoting-innovations-individuals-startups-and-msmes-prism

Source listing: https://www.startupindia.gov.in/content/sih/en/government-schemes.html

References

Apply

Apply now

Opens the official application or programme portal in a new tab. If in doubt, confirm details on the ministry site.

Documents Required for Government Schemes

Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:

  • Aadhaar Card
  • Income Certificate
  • Caste Certificate (if applicable)
  • Residence Proof
  • Bank Account Details
  • Educational Certificates (for student schemes)

How to Apply for Government Schemes?

The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:

  1. Check eligibility criteria
  2. Collect required documents
  3. Fill the application form
  4. Submit the application online or at the relevant office
  5. Track application status