In a bold move to foster research and innovation in the mining, mineral processing, metallurgy, and recycling sectors, the Ministry of Mines is extending a significant opportunity to startups, micro, small, and medium enterprises (MSMEs), and individual innovators. Under the ‘Promotion of Research and Innovation in Startups and MSMEs in mining, mineral processing, metallurgy, and recycling sector (S&T-PRISM)’ initiative, the government is inviting proposals that could shape the future of mining and industrial applications.
S&T-PRISM Guidelines: The Centre has rolled out comprehensive guidelines for S&T-PRISM, emphasizing applied and sustainable aspects of mining in the mineral sector. Unlike open-ended fundamental research, this program is dedicated to translating research into technology, driving innovation, and developing products or processes ready for demonstration or pilot-scale deployment.
Empowering Startups and MSMEs: S&T-PRISM seeks to empower startups and MSMEs in the mining segment, propelling them to a stage where they can attract investments or qualify for loans from commercial banks and financial institutions. The program’s funding is strategically positioned to act as a facilitator between development and commercialization phases, bridging the crucial gap in the innovation journey.
Mentorship and Support: Selected startups will not only receive funding but also benefit from mentorship, incubation support, and technical advisory assistance throughout the project development period. A dedicated facilitation and mentorship team, led by the Jawaharlal Nehru Aluminium Research Development and Design Centre, will extend support for an additional two years post-technical completion. The mentorship scope encompasses advisory services, networking, resource tapping, piloting, business planning, and fundraising.
Focus on Inclusivity: In a notable emphasis on inclusivity, the Ministry of Mines expresses a preference for women-led startups or MSMEs, as well as those originating from India’s Northeast region. This inclusive approach aims to diversify and strengthen the landscape of innovation in the mining sector.
Implications for the Future: The S&T-PRISM initiative gains significance in the context of India’s recent discovery of substantial lithium reserves in Jammu & Kashmir, a crucial element for electric vehicle batteries. While commercial lithium mining in the region is on the horizon, the push for funding and research in India’s startup ecosystem promises accelerated progress in the mining field.
As the government extends an invitation to pioneers in the startup and MSME landscape, the S&T-PRISM initiative emerges as a catalyst for transformative change in the mining industry. It not only fuels innovation but also opens doors for startups and MSMEs to play a pivotal role in shaping the future of mining and related sectors.
