Mines Ministry to promote research, innovation in mining, mineral processing
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The Ministry of Mines is planning to promote Research and Innovation in Start-ups and MSMEs and has brought out guidelines for ‘Promotion of Research and Innovation in Start-ups and MSMEs in mining, mineral processing, metallurgy and recycling sector (S&T-PRISM)’. Proposals will be invited from Startups, MSMEs and Individual Innovators for up to two years duration, which have direct bearing on mineral sector, applied and sustainable aspect of mining and industrial applications, for funding.
The above decision can enable them to graduate to a level where they will be able to raise investments or they will reach a position to seek loans from commercial banks/financial institutions. The funding is positioned to act as a bridge between development and commercialization of innovative technologies/products/services in a relatively hassle-free manner.
As per the notification released by the Ministry of Mines, the main idea of the S&T-PRISM is translation of research into technology (product/process/services) but not to carry out open ended fundamental research. Investigations must lead to innovation or new product/process ready for demonstration or pilot scale deployment (not only publication/ patent).
