What is the PRIP scheme? The Modi government will provide assistance of up to Rs 100 crore to MSMEs and startups. How to apply?

The Central Government has invited applications for research and innovation projects under its PRIP (Pradhan Mantri Pharma-MedTech) scheme to promote research and innovation in the pharma-medtech sector to make it a globally competitive and innovation-driven sector. The Ministry of Chemicals and Fertilizers said in a statement that with a sanctioned fund of ₹5,000 crore, the scheme is expected to accelerate pharma-medtech innovation by supporting approximately 300 projects.

The scheme covers a total research and development investment of approximately ₹11,000 crore in new drugs, complex generic drugs, biosimilars, and new medical devices.

What is the Speciality of the Scheme?
The Department of Pharmaceuticals has notified amendments to the scheme and issued revised guidelines to enhance its impact and improve its effectiveness to meet the needs of all stakeholders.

Under the revised scheme, MSMEs and startups in early-stage projects can apply for assistance of up to ₹5 crore for projects costing up to ₹9 crore. For later-stage projects costing up to ₹285 crore, MSMEs and startups can apply for assistance up to ₹100 crore.

Cost-Related Conditions in the Scheme
A government press release states that the financial assistance scale for early-stage projects is 100 percent for costs up to ₹1 crore and 50 percent for additional costs above ₹1 crore, subject to a maximum of ₹5 crore.

For later-stage projects, the financial assistance scale is 35 percent of the project cost, subject to a maximum of ₹100 crore.

In addition, the revised scheme provides special incentives to industry, MSMEs, and startups. The application window for the scheme opened on October 1st through a dedicated portal, the release said.

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