The Union Ministry of Textiles has approved the Startup Guidelines for Technical Textiles – Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) providing grant-in-aid upto INR 50 Lakhs for upto a period of 18 months.
Key points
- The guidelines focus on supporting individuals and companies to translate prototype to technologies & products including commercialization. The GREAT Guidelines provides thrust in Technical Textiles’ application areas.
- To incentivize the incubators, Ministry to additionally provide 10% of total grant-in-aid to incubators.
- To strengthen authenticity and commitment towards the project, a minimum investment of 10% of the funding from the incubatee in two equal installments is mandated.
