Question

What is the primary goal of the Innovation Grant scheme introduced by the Government of Kerala?

• A. To provide prize money for innovative ideas.
• B. To offer financial assistance to convert innovative ideas into full-fledged ventures.
• C. To fund research and development for existing products.
• D. To support marketing and sales of established products.

Answer 1

Answer:

B. To offer financial assistance to convert innovative ideas into full-fledged ventures.

INNOVATION GRANT

• The Govt. of Kerala has introduced the Innovation Grant scheme to provide financial assistance to startups and entrepreneurs to help them convert their innovative ideas into full-fledged ventures.

• This scheme is implemented through Kerala Startup Mission, which is the nodal agency of Govt. of Kerala for startup-related activities and schemes.

• Innovation grant is not a prize money for having an idea.

• The purpose of the innovation grant is to help innovators and startups to develop the prototype or product and scale up into full fledged ventures.