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Business News/ Companies / Start-ups/  Startups IPR scheme aimed at promoting innovation: Minister
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Startups IPR scheme aimed at promoting innovation: Minister

Jitendra Singh said that the filing of intellectual property rights (IPR) including patents and trademark by startups, along with industry linkages will encourage innovation and motivate enterprise in India

Government launched the scheme, Startups Intellectual Property Protection (SIPP) for encouraging innovation and creativity of startups. iStockphotoPremium
Government launched the scheme, Startups Intellectual Property Protection (SIPP) for encouraging innovation and creativity of startups. iStockphoto

New Delhi: The union minister of state (Independent Charge) for science and technology, Jitendra Singh has said that ‘StartUps Intellectual Property Rights Protection’ scheme is aimed at promoting innovation and entrepreneurship.

Addressing the ‘National Intellectual Property Festival’, Singh said that the filing of intellectual property rights (IPR) including patents and trademark by startups, along with industry linkages will encourage innovation and motivate enterprise in India. 

The scheme envisages 80% rebate in patent filing and 40%-50% rebate compared to the conventional industries and the companies, he said

“You can couple the StartUps, eg. you have the Mudra scheme, which offers you a loan of 10-20 lakhs without any gratuity, mortgage, almost interest free," he said.

Government launched the scheme, Startups Intellectual Property Protection (SIPP) for encouraging innovation and creativity of startups. Under the new Trademark Rules, Startups have been given a 50% rebate in filing fees compared to other companies.

Even for promotion of registration of Industrial Designs by StartUps as per the new design amendment rules 2021, the government has reduced filing and prosecution fees for small entities.

Jitendra Singh called for combining the digital repository of traditional knowledge and heritage with the modern scientific innovation and by institutionalizing this mechanism, we can gain cutting edge in sectors such as Khadi, Aroma Mission and Lavender cultivation.

“I am convinced this is one of the best times happening, optimum times happening, and if we are into this StartUp IPR protection, we have the advantage of supplementing our StartUp ventures with our traditional knowledge, which is not happening as frequently as it could happen here. And if we do that, we would actually have an edge over other countries," he said.

Secretary, DPIIT, Rajesh Kumar Singh and senior scientists and officials of CSIR and DST were present on the occasion.

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Published: 02 Jul 2023, 07:11 PM IST
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