Kerala govt launches scheme to reimburse patent cost to startups, student entrepreneurs

Thiruvananthapuram: The Kerala government has designed a scheme to reimburse the cost met by startups and students for obtaining national and international patents for their inventions. The scheme is aimed to encourage innovation and recognise the value and capabilities of intellectual properties and technology innovations in the state.

The scheme, titled Patent Support Scheme, is implemented through the Kerala Startup Mission (KSUM), the government’s nodal agency for entrepreneurship development and incubation activities in the state. Under the scheme, the government will reimburse upto Rs 2 lakh for startups and students securing national patents and upto Rs 10 lakh for those bagging international patents.

KSUM has invited applications from eligible startups and student innovators under the scheme.

“This is a highly rewarding scheme that will motivate and encourage startups and student entrepreneurs in Kerala’s robust ecosystem. This comes as a big support, especially for early-stage startups which have developed unique products and are planning to secure patents for their market launch and scaling up”, said KSUM CEO Anoop Ambika.

The scheme, which aims to promote entrepreneurship and innovation by taking advantage of excellent facilities and supports available in the state, will cover all patent applications filed through registered patent attorneys after November 9, 2015.

The eligible startups and student innovators can submit online applications via the KSUM portal. Registration will be open on all days. The applications received before the 20th of every month will be processed that month itself and those received after 20th will be carried forward to the next month for processing.