The government said on Tuesday that it will provide a grant of up to Rs 50 lakh to startups and individuals to promote innovation in the niche segment of technical textiles.
The Startup Guidelines for Technical Textiles – Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT), which provides a grant of up to Rs 50 lakh for a period of up to 18 months, has been approved, Rajeev Saxena, Joint Secretary, Ministry of Textiles, said.
With a strong emphasis on developing the Startup Ecosystem in Technical Textiles, the guidelines focus on supporting individuals and companies in translating prototypes into technologies and products, including commercialization, he told reporters here about the significant developments in the National Technical Textiles Mission (NTTM).
“We are going to support up to Rs 50 lakh in the form of a grant without any royalties or equity. The incubatee only needs to contribute a minimum of 10 percent. All this is done by incubators such as IITs, NITs, Textiles Research Associations and Centers of Excellence, among others,” said Saxena.
As part of the GREAT program, he said, the ministry is considering making the research, which has already been done and some prototypes developed, commercialized.
The official said that an online portal will be developed within 10-15 days to invite applications. The plan will be in accordance with the National Technical Textile Mission. We are going to support 100-150 startups.
In addition, according to an official press release, the Ministry of Textiles will provide 10 percent of the total subsidy to incubators.
To reinforce authenticity and commitment to the project, Saxena says a minimum investment of 10 percent of the incubatee’s funding in two equal installments is required.
The startup guidelines (GREAT) aim to provide much-needed momentum to the development of India’s technical textile startup ecosystem, especially in niche sub-segments such as biodegradable and sustainable textiles, high-performance and specialty fibers, and smart textile.
According to the guidelines, a Memorandum of Understanding (MoU) will have to be signed between the selected startups and the incubator.
The Ministry of Textiles has also given a nod to 26 institutes for upgrading their laboratory infrastructure and training trainers in the application areas of technical textiles.
Applications from 26 institutions for the development and introduction of technical textile courses/papers in the main departments/specializations and for the introduction of a new program in technical textiles have also been approved.
A total of Rs 151.02 crore was approved, with 15 applications worth Rs 105.55 crore coming from public institutions and 11 applications worth Rs 45.47 crore coming from private institutions.
Some of the major institutes funded under the scheme include IIT Delhi, NIT Jalandhar, NIT Durgapur, NIT Karnataka, NIFT Mumbai, ICT Mumbai, Anna University, PSG College of Technology and Amity University.
Saxena also shared some details about the Quality Control Orders (QCOs) for the technical textile segment.
Regarding the quality and regulatory aspect of technical textiles, the Ministry has already notified two QCOs for 31 technical textile products, including 19 geotextiles and 12 protective textiles, which will come into force from October 7, 2023.
In addition, the QCOs for 28 products, including 22 agricultural textiles and six medical textiles, are also in the final stages of issuance and are likely to be issued in September 2023, Saxena added.
In addition, an additional 28 items qualify for QCOs, including building textiles, industrial textiles, and ropes and cordage.
(This story has not been edited by News18 staff and was published via a syndicated news agency feed – PTI)
