New Boost for Deep-Tech Startups: DSIR Eases Funding Norms

The Department of Scientific and Industrial Research (DSIR) has removed the three-year viability requirement for deep-tech startups seeking financial assistance. Announced at DSIR's foundation day, this move aims to support startups with funding up to Rs 1 crore, encouraging quicker growth under the Industrial Research and Development Promotion Program.

The Centre has revised its eligibility criteria for deep-tech startups looking to secure financial assistance from the Department of Scientific and Industrial Research. This initiative was announced by Union Science and Technology Minister Jitendra Singh during the 42nd foundation day celebration of DSIR.

Significantly, the three-year viability requirement has been eliminated, allowing startups to avail financial assistance of up to Rs 1 crore much earlier in their journey under DSIR's Industrial Research and Development Promotion Program (IRDPP). This shift is expected to expedite the growth trajectory of emerging startups by accelerating their scalability.

Minister Singh highlighted that while the substantial Rs 1 lakh crore Research, Development and Innovation fund targets startups with technological achievements, a wide array of schemes remain in place for early-stage innovators and entrepreneurs. The adjustment aims to offer vital early-stage momentum, fostering innovation across the sector.

(With inputs from agencies.)