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The Kerala launched a scheme called Technology Transfer Scheme where startups who have purchased or sourced technology license from any government research institution will receive reimbursement upto Rs 10 Lakhs.
New Delhi: Good news for startups in Kerala that are planning to procure technology licenses from government research institutions in the country. The Pinarayi Vijayan-led government will now reimburse upto Rs 10 lakh to startups purchasing or sourcing technology from government research institutions and working on them to develop products that could be commercialised.
Tech license reimbursement for startups in Kerala – What do we know
- Kerala launched a scheme to reimburse the expense incurred by the nascent startup ventures to procure technology licenses from government research institutions in the country to commercialise and scale up their products.
- Under the project titled ‘Technology Transfer Scheme’, implemented through Kerala Startup Mission (KSUM), the government will remburse the technology license cost.
- KSUM CEO, Anoop Ambika, said this scheme will help startups in the State to gain greater access to know-how required for turning their ideas into marketable products.
- KSUM, in a release said, it has invited applications from eligible startups to avail the benefits offered by the scheme. “This is a highly rewarding scheme that will encourage our startups to innovate on their ideas without bothering about the cost involved,” Ambika said.
- As part of the fiscal support scheme, 90% of the technology fee paid by startups to the research institutions from where technology licenses are purchased or sourced will be reimbursed.
Eligibility Criteria for the reimbursment of tech license cost
- The startup should be a registered company in Kerala as an LLP or Pvt. Ltd company and should have an active registration with KSUM at the time of application.
- The startup company has DIPP registration and an ‘Active’/ ‘Active Compliant’ status with MCA.
- The startups shall not have any other pending dues with any of the Government agencies, KSUM, Other incubators in the state and shall not be blacklisted by any Govt. agency in India
How to apply for the reimbursement
The eligible startups with an active registration with KSUM can submit online applications via the KSUM portal – startupmission.kerala.gov.in/schemes/technology-commercialisation. KSUM is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.
Documents required
- Original hard copy of Invoice & Receipt with authorized seal and signature from the research organization.
- Original Bank Statement showing amount transferred (Verified by Bank Manager).
- Technology Transfer Agreement with research organization.
- Residence Proof details of the director(s)/ applicant(s).
- Company incorporation documents (Incorporation Certificates, MoA, AoA, DIN nos).
- Undertaking that the startup has not so far claimed and will not claim any sort of reimbursement costs from any other organizations/ govt. bodies and if found, they will pay twice the amount to KSUM, that is reimbursed through Technology support scheme.
- Canceled Cheque of the company and Bank details (Branch name, IFSC Code).
Brief: This scheme intends to support Technology License/Transfer Startups by providing a funding support of maximum of Rs.10 Lakhs in the form of reimbursement for the startups, who have paid to the research institution. However, the support is limited to 90% of the technology fee to be paid to the research entity.
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