This flagship programme from the Department of Scientific & Industrial Research under the aegis of Ministry of Science & Technology was instituted with the goal to support individual innovators who will be able to achieve an inclusive growth agenda. This programme would also provide aid to institutions or organizations founded as an Autonomous Organization under a specific status or as a society registered under the Societies Registration Act, 1860 or the Indian Trusts Act, 1882, which would lead to the development of state of the art technology innovations and solutions aimed at helping MSME clusters.

Key features of PRISM

  • This programme is implemented in 2 phases, catering to both the initial innovation stage and the advanced enterprise setup phase

  • Funding of up to Rs.50 lakh can be obtained for the enterprise setup phase

  • The scheme can also be applicable to any R&D institute, autonomous iInstitutions, public funded laboratories or academic institutes working on developing technology solutions aimed at helping MSME clusters

Scope & Applicability of the PRISM Scheme

The innovations presented are preferred to be from the following sectors: 

  • Green Technology

  • Clean Energy

  • Industrially Utilizable Smart Materials

  • Waste To Wealth

  • Affordable Healthcare

  • Water & Sewage Management

  • Any Other Technology Or Knowledge Intensive Area

Who are eligible to apply for the PRISM funding?

This scheme was introduced with the aim to encourage young student innovators. However, any Indian citizen with an innovative mind and is keen to transform their idea into a working model can apply for the funding. 

This scheme may also be applicable to Autonomous organisations or societies, viz. Institutions and organisations funded by the government, registered under the Societies Registration Act, 1860 or the Indian Trusts Act, 1882 engaged in the pursuit of technology. 

Programs & Eligibility

 Programme  Eligibility
 PRISM Phase-I
 Category-I: Proof of Concept/ Prototypes/ Models
 Maximum funding may be limited to Rs.2 lakh or 90% of the overall cost of the project, whichever is lower  Any Indian citizen, including a student innovator, may make use of support to transform their unique ideas into demonstrable models / prototypes
 Category-II: Fabrication of working model/process know-how/ testing and trial/patenting/technology transfer etc. (Innovation Incubation)
 Maximum funding of up to Rs.20 lakh or 90% of the total project cost whichever is lower  Any Indian citizen having innovative ideas
 PRISM- Phase-II (Enterprise Incubation)
 Maximum funding of up to Rs.50 lakh limited to 50% of the total project cost.
Support may be offered for the development of technology-based developments, including patenting / design registration / trademark registry / technology transfer, in order to develop a marketable product / business creation process.		  Successful innovators or innovators of PRISM who have successfully demonstrated proof of concept with the aid of other government institutions / agencies are entitled
 PRISM-R&D Proposals
 Maximum funding of up to Rs.50 lakh, limited to 50% of the total project cost for developing technology solutions aimed at helping MSME clusters.  Any R&D institute / autonomous institutions/public funded laboratories/ academic institutes

 

How to apply for the PRISM scheme?

The proposals are processed through the nearest TePP Outreach cum Cluster Innovation Centres (TOCIC). 

  • The applicant should contact them to submit their initial proposal. 

  • Coordinators of TOCICs are approachable for any advice before submitting the application and the applicants are encouraged to take this opportunity for their benefit. 

  • Any proposals that are received directly by the DSIR will also be forwarded to the appropriate TOCIC for consultation and local screening.

  • The ideas would initially be reviewed for completeness by the TOCICs coordinators at the point of receipt.

  • The Domain Information Experts affiliated with the TOCIC shall assess the proposals after initial screening.

  • The TOCICs will forward complete and evaluated proposals to the DSIR for further action.

  • The recommendations will be considered for approval by the PRISM Advisory and Screening Committee (PASC).

  • Ultimately, the sanction will be issued to those approved by the Department. Before the actual release of grants-in-aid, the applicant must sign "Terms & Conditions."

  • The first launch is based on the expected and proposed milestones and deliverables in the plan proposals as recommended by PASC. The subsequent releases are based on Project Review Committee (PRC) assessment of project development.

  • TOCIC and other network members, including technical experts, will track the approved projects.

  • TOCIC must report the project status to DSIR at a 3 month interval on a regular basis. The PRCs composed of outside experts must meet to review the progress of the project at least once in 9 months.

  • The project completion statement will be approved in the DSIR by the competent authority based on the advice of the PRC after the work has been successfully completed. 

End Note: This scheme benefits those individual innovators looking for grants, professional support and mentoring in way of incubating their innovations for the creation of new companies in phases. It also provides support to those technology service providers creating technology solutions aimed at helping the MSME sector.