Latest Post :
Home » » Qualifying norms for start- up patent subsidy scheme now relaxed

Qualifying norms for start- up patent subsidy scheme now relaxed

Written By Admin on Thursday, 26 February 2015 | Thursday, February 26, 2015

NITA BABU
Bengaluru, 25 February

Many technology start- ups and small and medium enterprises could benefit from a government initiative that provides financial assistance to file global patents, as the Centre has eased the qualifying norms.

The move came after the funds allocated under the first phase of the policy remained under- used because of the strict eligibility criteria.

Earlier, only those firms whose research and development was recognised by the department of scientific and industrial research were eligible.

But the government has done away with this requirement.

“That was a major limitation,” said A S Rao, who chaired the review and is a founder circle member of Indian Software Product Industry Round Table (iSPIRT). “ Now, all startups, incubated anywhere in India, are made eligible.” In India, the filing of patents is a costly and long process.

A number of patents for intellectual property ( IP) originating in the country are being filed abroad due to this. Simplifying the process and making it affordable has been one of top demands of the sector.

The second phase of the policy runs for five years and was introduced in December by the department of electronics and information technology (DeitY).

Rajat Tandon, senior director, Nasscom 10,000 Startups, said, “ The first phase had limited uptake due to restrictions in the eligibility criteria, which have been modified based on inputs from Nasscom and sectoral members.” Both Rao and Tandon said it was too soon to measure the impact of the second phase of the policy since the guidelines were notified only recently and the awareness about the policy was still low.

Filing of patents in the country, meant to provide ownership of intellectual property ( IP) to its inventor, is an expensive and tedious process Many patents for IP originating in the country are being filed abroad due to this DON’T BE IM- PATENT
Share this article :

0 comments :

Speak up your mind

Tell us what you're thinking... !

2500 + Subscribers

Get Toolbar

Get our toolbar!

Read article on Android Phone

Share your file

Forum

Get updates on Facebook

Popular Posts

 
Support : Creating Website | Johny Template | Mas Template
Copyright © 2011-2013. YourKnowledgeportal - All Rights Reserved
Original Design by Creating Website Modified by Adiknya
Blogger Widgets