MSME Innovative Scheme: Design Component — Frequently Asked Questions
Answers to the questions founders most often ask about MSME Innovative Scheme: Design Component — who qualifies, the funding amount, required documents and how the application works.
Frequently asked questions
How much funding can I get through this scheme?
Eligible MSMEs can receive a grant of up to ₹40 Lakhs per project. For micro-enterprises, the government covers 75% of the project cost, while for small and medium enterprises it covers 60%.
What maturity stage does my business need to be at?
The business must have been in operation for at least three years and be in the revenue stage. It should have shown profit in at least one of the past three financial years.
Which industry sectors are eligible?
The scheme is mainly for manufacturing enterprises, including industries such as Agriculture, Healthcare Devices, Power & IT, general manufacturing, as well as service and miscellaneous categories.
Is this program only for specific states or all of India?
The scheme is open to MSMEs across all states of India under the Ministry of MSME. There are no state-specific restrictions.
What business entity types can apply?
Accepted structures are private limited companies, limited liability partnerships (LLPs), partnerships, and proprietorships.
Do I need to register with DPIIT or MSME?
Yes – a valid Udyam Registration Certificate (MSME registration) is required. DPIIT registration is not mentioned as a requirement.
Does this grant take equity in my business?
No. This is a grant, and the government does not take any equity or stake in the business.
What can I use the grant money for?
Funds can be used for product design, user experience (UX) design, prototype development, and packaging design.
What is the application deadline?
There is no closing date – the scheme operates on a rolling basis, and applications are accepted throughout the year.
How do I apply and where can I get local help?
Applications are submitted online via the official MSME Innovative portal. SIIC IIT Kanpur offers expert guidance on refining the proposal, understanding the requirements, and navigating the portal, particularly for MSMEs in its operational region.
Who is eligible to apply for MSME Innovative Scheme: Design Component?
MSME Innovative Scheme: Design Component is open to startups at the revenue stage working in manufacturing industrial. It is open to startups registered anywhere in India. Applicants should be registered as private limited, llp and partnership.
Who offers MSME Innovative Scheme: Design Component?
MSME Innovative Scheme: Design Component is offered by Ministry of MSME, a government body. It is provided as non-dilutive funding.