Ministry of textiles approves Startups scheme for technical textiles
17 Jun 2024
The union ministry of textiles has approved a scheme of financial support for startups in technical textiles by promoting innovation and transformative development in order to make the industry sustainable.
The scheme provides for Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT). Rachna Shah, secretary in the ministry of textiles, stated at the seventh meeting of the Empowered Programme Committee (EPC) of the National Technical Textiles Mission (NTTM) in New Delhi on Thursday.
The aim, she said, is to help young innovators, scientists/technologists and startups in technical textiles translate their ideas into commercial ventures/products.
The grant will be provided to individual entrepreneurs or start-ups for the creation of prototypes or commercialisation of their technologies, she said. The focus is on sustainabile advancement in the crucial areas of composites, high-performance textiles, meditech, and smart textiles, she added.
The EPC also approved seven startup proposals under the GREAT scheme. Under the scheme Government of India will provide maximum financial support of Rs50 lakh per startup.
Already, eight startup proposals have been approved under NTTM. These include high-tech areas like ‘developing and manufacturing Braided Composites for military applications, Radmone Integrated IFF Antenna, Surgical Stimulation models made-up of composites for training doctors, Nano-fibre infused textiles for energy generation and sensing’, etc.
The EPC has also approved a grant of Rs6.4 crore to IIT Guwahati to introduce new papers/subjects in technical textiles and upgrade laboratory facilities in its civil engineering department.
