Creativity and Entrepreneurship in MSME Sector

The Ministry of Micro, Small and Medium Enterprises (MSME) has taken several initiatives for providing an impetus to promote creativity, innovation and entrepreneurship. These inter-alia include Entrepreneurship and Skill Development Programme (ESDP), MSME Champions Scheme and Prime Minister`s Employment Generation Programme (PMEGP) to motivate youth representing different sections of the society to consider self employment or entrepreneurship and enhancing competitiveness of manufacturing MSMEs in the country.

 Financial Assistance is being provided for innovation, design and protection of Intellectual Property Rights (IPR) in MSME sector under MSME Innovative component of MSME Champions Scheme launched on 10.03.2022. During the current Financial Year 2022-23, 257 ideas under MSME Idea Hackathon 2022, reimbursement of 1196 Trademarks, 186 Patents, 53 Design and 11 Geographical Indication (GI) have been approved for providing financial assistance with an estimated cost of Rs. 34.00 Crore.

This information was given by Minister of State for Micro Small and Medium Enterprises, Shri Bhanu Pratap Singh Verma in a written reply to the Lok Sabha.

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