MSME Innovative Scheme (Incubation, Design, IPR)

Open now Ministry of MSME (Office of DC MSME), through Host Institutes All of India

Grant plus other support

Up to ₹15 lakh per idea; up to ₹40 lakh per design project; patent refunds up to ₹5 lakh

What it funds: Funding for ideas, design projects and patents through MSME host institutes
Who can apply: Innovator of Indian origin aged 18 to 60, student, or Udyam MSME
Attached to a registered Host Institute
MSMEs and others pay 15% of project cost; students pay nothing
When you can apply: Open nowNo fixed deadline
How to apply: Approach a registered Host Institute, which submits your idea on the MSME Innovative portal
Best for: Idea, Prototype stage
Run by: Government of India

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Pradhan Mantri MUDRA Yojana (PMMY)Up to ₹20 lakh: Shishu ₹50,000, Kishor ₹5 lakh, Tarun ₹10 lakh, Tarun Plus ₹20 lakh Open all year
Prime Minister's Employment Generation Programme (PMEGP)15% to 35% of a project up to ₹50 lakh (₹20 lakh for services) Open all year
Promoting Innovations in Individuals, Startups and MSMEs (PRISM)Up to ₹20 lakh (Phase I); up to ₹50 lakh (Phase II) Open all year
Rice Business Plan Competition$950 to $25,000 in cash prizes; top places win investment Opens 9 Nov 2026
Startup India Seed Fund Scheme (SISFS)Up to ₹20 lakh grant for proof of concept; up to ₹50 lakh as convertible debentures or debt for market entry Closed