INNOVATION VOUCHER PROGRAM
The Innovation Voucher Program (IVP) is a State Government initiative designed to foster research, development, and innovation among MSMEs (Micro, Small, and Medium Enterprises) and Start-ups across key sectors. It provides financial grants to transform ideas into market-ready solutions through structured support.
Objective
To accelerate innovation by offering funding and expert guidance to help enterprises:
- Convert conceptual ideas into functional prototypes.
- Transition validated prototypes into commercialized products/services.
Eligible Sectors
The programme targets sectors including:
- Agriculture, Horticulture, Veterinary, and Fisheries
- Engineering, Automobiles, and Electronics
- Health, Waste Management, and Nano-Technology
Voucher Types & Support
Voucher A
Grant: Up to ₹2 lakh
Purpose:
Funding to develop a working prototype from an idea.
Voucher B
Grant: Up to ₹5 lakh
Purpose: Support for commercialization of validated prototypes (scaling, market entry, etc.)
Selection Process
- Proposals are evaluated by a State-level Screening Committee.
- Criteria include innovation potential, feasibility, and sectoral impact.
- Selected ideas receive grants tailored to their development stage (Voucher A/B).
Role of NGI TBI (Knowledge Partner)
NGI TBI Provides:
- Technical mentorship during pre – development stages.
- Assistance in product/process development (testing, refinement, IP guidance).
- Networking opportunities with industry experts and investors.
Expected Impact
- Bridges the gap between ideation and commercialization for MSMEs/Start-ups.
- Enhances sectoral competitiveness through scalable innovations.
- Strengthens the ecosystem for R&D driven entrepreneurship.