MSInS Grants: Empowering Maharashtra Start-ups & Innovators

The Maharashtra State Innovation Society (MSInS) is the nodal agency established by the state government to boost the start-up ecosystem. It serves as a single-window platform for entrepreneurs to access resources, mentorship, and significant financial grants to scale their innovations.

By bridging the gap between ideation and commercialization, MSInS ensures that homegrown startups receive the necessary support to compete globally. Whether you are in the early R&D phase or ready for market expansion, these grants provide the vital capital needed to succeed.

What is this scheme?

The MSInS grants are specialized financial incentives designed to assist Maharashtra-based startups in overcoming initial technical and legal hurdles. These grants primarily focus on Intellectual Property (IP) protection, Quality Testing, and Research and Development (R&D).

Under the 'Maharashtra State Innovative Start-up Policy', the society offers schemes like the 'Quality Testing & Certification' and 'Intellectual Property Support'. The goal is to ensure that small businesses do not compromise on product standards or legal protection due to lack of funds. The agency operates under the Skill Development Department, creating a robust infrastructure for innovation and job creation across the state.

Objective

The scheme aims to provide financial assistance to startups for testing their products and securing patents. It strives to foster a culture of innovation and enhance the global competitiveness of Maharashtra-based entrepreneurs.

Key features

• Reimbursement for Domestic and International Patenting costs
• Financial support for Quality Testing at NABL accredited labs
• Access to a network of state-wide incubators and mentors
• Special incentives for women-led and rural startups
• Simplified digital application process via the MSInS portal
• Support for Prototype development and R&D activities

Financial benefits

Startups can receive reimbursements ranging from ₹2 Lakh for local certifications up to ₹15 Lakh for global R&D and patenting activities. Total funding depends on the specific category of the grant applied for.

Who is eligible?

• The entity must be recognized by DPIIT (Startup India)
• The startup must be registered in the state of Maharashtra
• Must have a valid MSInS registration number
• The startup should not be older than 10 years from the date of incorporation
• Annual turnover must not exceed ₹100 Crore in any financial year
• The innovation must involve a scalable business model with high potential for employment

Required documents

• ☑ DPIIT Recognition Certificate
• ☑ Certificate of Incorporation
• ☑ Maharashtra State Innovation Society Registration
• ☑ Test Reports or Patent Application receipts
• ☑ Audited Financial Statements
• ☑ Company PAN and GST details

How to apply — step by step

1. Register your startup on the official MSInS web portal
2. Obtain DPIIT recognition if not already acquired
3. Navigate to the 'Schemes' section and select the relevant grant
4. Fill out the online application form with project details
5. Upload the required legal and financial documents
6. Submit the proposal for evaluation by the expert committee
7. Attend the pitch session or verification meeting if called
8. Receive grant approval and funds via Direct Benefit Transfer

Important dates

Important links

Conclusion

The Maharashtra State Innovation Society is a game-changer for entrepreneurs looking to turn their ideas into viable businesses. By providing financial cushions for critical steps like patenting and testing, the government ensures that innovation remains the priority. If you are a founder in Maharashtra, do not miss these opportunities to scale your venture with state support. For more updates on such government schemes and step-by-step application guides, make sure to sign up on YojanaRadar today and stay ahead in your entrepreneurial journey.

Frequently asked questions

Can I apply for multiple grants under MSInS?

Is it mandatory to have DPIIT recognition?

What is the timeline for grant disbursement?

Does MSInS take equity in exchange for these grants?

Are individual innovators eligible without a company?