In a significant stride towards fostering innovation and sustainability, the Centre has sanctioned grants of INR 50 lakh each for seven startups operating in the technical textiles domain, as part of the National Technical Textiles Mission (NTTM). This strategic move aims to bolster research and entrepreneurship in critical sectors while nurturing self-reliance and indigenous innovation.
Empowering Startups: Driving Innovation in Technical Textiles
Under the aegis of the NTTM, eight startup proposals have received approval, signaling a concerted effort to catalyze advancements in sustainability, composites, high-performance textiles, meditech, and smart textiles. The announcement was made by Rachna Shah, Secretary, Ministry of Textiles, during the 7th meeting of the Empowered Programme Committee (EPC) of the NTTM, underscoring the government’s commitment to fostering a vibrant ecosystem for innovation and entrepreneurship.
Investing in Academic Excellence: Strengthening Infrastructure at IIT Guwahati
In addition to startup funding, the EPC has allocated INR 6.4 crore to IIT Guwahati, earmarked for the augmentation of technical textiles subjects and the enhancement of laboratory infrastructure within the institute’s Civil Engineering Department. This strategic investment underscores the pivotal role of academic institutions in driving research and development initiatives that underpin India’s technical textiles landscape.
GREAT Scheme: Fostering Research and Entrepreneurship
The grants, sanctioned under the NTTM’s Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) scheme, epitomize the government’s vision to nurture young innovators, scientists, technologists, and startup ventures. By incentivizing the translation of groundbreaking ideas into tangible technologies and products, the GREAT scheme catalyzes a paradigm shift towards self-sufficiency and innovation-driven growth.
Catalyzing Startup Growth: Qualifying Criteria and Guidelines
To qualify for the GREAT scheme, startups must adhere to stringent criteria, operating as private limited companies, partnership firms, or LLPs with a turnover below INR 100 crore in any previous financial year. Emphasizing innovation and job creation potential, eligible startups must demonstrate a commitment to enhancing existing products while maintaining operational R&D facilities or affiliations with recognized incubators.
NTTM: A Beacon of Technological Advancement
Launched in 2020, the NTTM stands as a beacon of India’s aspirations to emerge as a global leader in technical textiles. Through targeted interventions that promote research, innovation, and widespread application across diverse sectors, the mission underscores the transformative potential of technical textiles in driving economic growth and societal well-being.
Driving Local Manufacturing: A Holistic Approach
Aligned with the government’s vision to bolster local manufacturing, the NTTM represents a holistic approach to nurturing indigenous capabilities and fostering industry-academia collaboration. Last August, the Ministry of Textiles earmarked INR 151 crore in funding for 26 institutes, aimed at upgrading laboratories and introducing courses on technical textiles. Beneficiary institutions, including premier academic entities like IIT Delhi, NIT Jalandhar, and NIFT Mumbai, epitomize the synergistic partnership between academia and industry in propelling India towards technical textiles excellence.
