Innovation Promotion in MSME
Innovation Cooperation Projects (ICP)

“Innovation cooperation projects (ICP)” are an important tool to strengthen SME innovation system at cluster/local level through facilitating and supporting enhanced collaboration and cooperation between innovation enabling service providers (research, academic, technology etc) and MSMEs on technological (product , process and service) problems/challenges.

Thus ICP aims to create new/improved technology, knowledge, products, processes or services which meet the needs of one SMEs or group of SMEs in a cluster.

“Innovation Promotion in MSME” project would extend support (facilitation, networking, managerial and financial) in initiation and implementation of ICP with following main objectives (indicative not exhaustive):

  • Solution geared towards “Technological, product design, process, business model” constraints; which are considered as an impediments to existing industry’s competitiveness and sustainability
  • Intended at product diversification/new product development
  • Advancement in technique of product testing with a view to ensuring cleaner, more efficient performance and reduced greenhouse gases etc;
  • Development of new production methods, manufacturing and process technologies to substantially increase productivity and efficiency
  • Nature and degree of strategic technology, process, product innovation and/or excellence that is new to the cluster/firm network
  • Advancement of industrial know-how by adopting national/international best practices to respective cluster