Funding for Transformative Development
In a significant move to promote innovation and sustainability, the Indian government has given the green light to grants for startups in the technical textiles sector. Under the National Technical Textiles Mission (NTTM), seven startups will receive INR 50 Lakh each. These grants aim to drive advancements in critical areas such as sustainability, composites, high-performance textiles, meditech, and smart textiles.
Empowering Aspiring Innovators
The Empowered Programme Committee (EPC) of the NTTM has also allocated INR 6.4 Cr to IIT Guwahati. This funding will enhance technical textiles subjects and laboratory infrastructure within the institute’s Civil Engineering Department.
The grants fall under the NTTM’s “Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles” (GREAT) scheme. This initiative encourages young innovators, scientists, and technologists to transform their ideas into commercial products, fostering self-reliance in India.
Eligibility Criteria and Institute Upgrades
- To qualify for the GREAT scheme, startups must operate as private limited companies, partnership firms, or LLPs with a turnover below INR 100 Cr. They should focus on innovating and enhancing existing products, with an emphasis on job creation.
- Additionally, these startups must be registered under the Indian Companies Act and have been incorporated within the past five years. Operational R&D facilities or affiliations with an incubator are also prerequisites. The Ministry of Textiles will allocate 10% of the grant-in-aid to incubators, further supporting innovation in the sector.
Moreover, INR 151 Cr has been approved for 26 institutes, including IIT Delhi, NIT Jalandhar, and NIFT Mumbai, to upgrade laboratories and introduce technical textiles courses.
This strategic move by the Centre aims to boost local manufacturing, position India as a hub for cutting-edge technical textiles, and empower the next generation of textile innovators.
