Government to provide aid of upto Rs 50 lakh to startups in technical textiles

The Indian government has unveiled a new program to aid businesses and individuals in the field of advanced textiles. GREAT (Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles) is a program that will award up to Rs 50 lakh in funding for a period of 18 months.

At a press conference on August 29 in New Delhi, Rajeev Saxena, Joint Secretary - Textiles, announced that the government had approved the "Startup Guidelines for Technical Textiles - Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT)," which would provide grant-in-aid of up to Rs 50 lakh for up to a period of 18 months.

But, he stressed, the young company's incorporation date can't go back more than five years.

The program's goal is to stimulate innovation in the specialized field of technical textiles, which has the potential to generate high-wage employment and increase exports. The goal of the GREAT program is to help individuals and businesses develop prototypes into marketable innovations and goods.

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Comprehensive support

"We will provide up to Rs 50 lakh in the form of grant-in-aid with no royalties or equity. The incubatee is only required to contribute a minimum of 10%. All of this is being accomplished by incubators in IITs, NITs, Textiles Research Associations, and Centres of Excellence, among others," said Saxena.

In approximately ten to fifteen days, an online application portal will be created, according to the official. The program will align with the National Technical Textiles Mission. "We will support between 100 and 150 startups," he said.

In addition, to encourage incubators, the ministry will provide 10% of the total grant-in-aid to incubators as an incentive.

Saxena stated that the incubatee is required to invest a minimum of 10% of the total funding in two equal installments in order to strengthen the project's authenticity and commitment.

The grant will be awarded to technical textiles fields such as agro-textiles, building textiles, geo-textiles, household textiles, medical textiles, mobile textiles, packaging textiles, protective textiles, and sports textiles.

The startup guidelines (GREAT) are intended to provide the much-needed impetus for the development of the technical textiles startup ecosystem in India, particularly in niche sub-segments such as biodegradable and sustainable textiles, high-performance and specialty fibers, and smart textiles, among others.

The selected startups and the incubator will be required to execute a memorandum of understanding (MoU) in accordance with the guidelines.

The textiles ministry has also granted approval to 26 institutes for upgrading their laboratory infrastructure and training trainers in the application areas of technical textiles, such as nod.

In addition, the applications of 26 institutions for the development and introduction of technical textile courses/ papers in the main departments/specializations as well as the introduction of a new degree programme in technical textiles have been approved.

15 applications from Public Institutes valued at Rs 105.55 Crores and 11 applications from Private Institutes valued at Rs 45.47 Crores have been approved for a total of Rs 151.02 Crores.

Under the initiative, IIT Delhi, NIT Jalandhar, NIT Durgapur, NIT Karnataka, NIFT Mumbai, ICT Mumbai, Anna University, PSG College of Technology, and Amity University will receive funding, among others.

Two new QCOs on 28 products soon

The ministry has previously notified two QCOs for 31 technical textiles items, including 19 geotextiles and 12 protective textiles, to go into effect on October 7, 2023, regarding the quality and regulation of technical textiles.

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Additionally, QCOs for 28 items, including 22 agrotextiles and six medical textiles, are nearing completion of issuance and are expected to be issued in September 2023, according to Saxena.

Additionally, QCOs can be awarded for another 28 products, such as "Building textiles," "Industrial textiles," "Ropes & Cordages," and so on.