INNOVATION VOUCHER PROGRAM
INNOVATION VOUCHER PROGRAMME
As an autonomous society (EDII) of the Government of Tamil Nadu established in 2001, we promote entrepreneurship, startups and MSME sector across the State. We are committed on creating a vibrant entrepreneurship and innovation culture amongst all segments, especially the young folk, leading to creation and growth of large number of innovative businesses predominantly in the manufacturing sector. We support, train and facilitate budding & existing entrepreneurs, MSME clusters, Startups, Colleges & Universities and establish incubation centers to create and nurture an E&I ecosystem. We spread aspirational entrepreneurship & innovation culture in Tamil Nadu through the following strategies:
- Build entrepreneurial competencies of aspiring youth and entrepreneurs
- Enhancement of the support ecosystem for entrepreneurs, including technology startups
- Embedding entrepreneurship education in the formal education system
- Research, surveys and publications on entrepreneurship and innovation
- Vibrant partnerships with all Government and Non-Government players in the entrepreneurship
INNOVATION VOUCHER PROGRAMME
Innovation Voucher Programme (IVP) is a unique State Government initiative to promote research and innovation among MSMEs/Start-ups from Agriculture, Horticulture, Veterinary, Fisheries, Engineering, Waste Management, Health, Automobiles, Nano-Technology, Electronics etc. A solution that will enable Startups and MSMEs with innovative ideas to move to the next stages like research, validation, market study and product development. The selection process is done with steering committees that consists of top officials from the MSME Department of Government of Tamil Nadu and eminent people from the Startup and industrial fraternity in the State.
Modeled on best practices, the IVP encourages the MSMEs and start-ups to utilize the services of a knowledge partner for furthering their innovative enterprises at the stage of pre-development and product or process development activities using two types of vouchers.
Knowledge Partner is an organization that can support the research requirement of the MSMEs, including National research institutions, reputed MHRD/UGC/AITE recognized Institutions, Research labs of large industries, and Product design consulting firms and design labs with sufficient experience.
There are two types of Vouchers available in the programme:
Grant is given for innovative idea to further proceed in getting their product idea validated with research and market study. This voucher provides grant upto Rs.2 lakh for selected MSMEs and Startups who will be provided constant support and also be monitored for progress with the help of their knowledge partner.
Grant is given for validated innovative products with strong market need to develop themselves into a commercially viable product. Voucher B provides grant upto Rs.5 lakh for selected MSMEs and Startups who will be provided constant support and also be monitored for progress with the help of their knowledge partner.
*More than 238 beneficiaries have been awarded from programme since induction.