The scheme provides grants, technical guidance and mentoring to individual innovators by incubating their idea towards the creation of new enterprises in phases. It also provides grant-in-aid support to technology solution providers developing technology solutions aimed at helping MSME cluster. The scheme runs in two phases.
The scheme runs in two phases.
· For PRISM I, any Indian citizen including student innovators can apply.
· For PRISM II, PRISM innovators or innovators who have successfully demonstrated proof of concept with the support of government institution/agency, PRISM-R&D proposals and public funded – R&D institutes/ autonomous institutions/ laboratories/ academic institutes etc. are eligible.
PRISM Phase-I Category-I: For proof of concept/prototype/models, with project cost up to INR 5 Lakhs, a maximum of INR 2 Lakhs or 90% of the total project cost (whichever is less) is provided.
· PRISM Phase-I, Category-II: For fabrication of working model/ process knowhow/testing & trail/ patenting/ technology transfer, etc. with a project costing between INR 5 Lakhs to INR 35 Lakhs, a maximum of INR 20 Lakhs or 90% of the total project cost (whichever is less) is given.
· Prism-Phase-II: Enterprise incubation, with a project costing between INR 35 Lakhs and INR 100 Lakhs, up to INR 50 Lakh limited to 50% of the total project cost is provided. For PRISM-R&D Proposals, up to INR 50 Lakhs limited to 50% of the total project cost is given.