Tech Fee
Kerala to reimburse tech license cost upto Rs 10 lakhs to startups
Thiruvananthapuram/UNI: Kerala has launched a scheme to reimburse the expense incurred by the nascent 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' that is implemented through Kerala Startup Mission (KSUM), the government will reimburse upto Rs 10 lakhs to startups purchasing or sourcing technology from government research institutions and working on them to develop products that could be commercialised.
KSUM has invited applications from eligible startups to avail the benefits offered by the scheme, a statement said on Sunday.
“This scheme will help startups in the state gain greater access to know-how required for turning their ideas into marketable products.
"This is a highly rewarding scheme that will encourage our startups to innovate on their ideas without bothering about the cost involved”, said KSUM CEO Anoop Ambika.
As part of the fiscal support scheme 90 percent of the technology fee paid by startups to the research institutions from where technology licences are purchased or sourced will be reimbursed.
The eligible startups with an active registration with KSUM can submit online applications via the KSUM portal.
KSUM is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.
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