Note4Students
From UPSC perspective, the following things are important :
Prelims level: GREAT Scheme
Why in the News?
As of February 4, 2025, 4 startups have been approved under the ‘Grant for Research & Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT)’ Scheme.
About GREAT Scheme:
- The GREAT Scheme is a government initiative under the National Technical Textiles Mission (NTTM).
- Launched by the Ministry of Textiles, it provides financial support to startups working in technical textiles.
- The scheme focuses on Medical Textiles, Industrial Textiles, and Protective Textiles, fostering innovation, research, and entrepreneurship.
- It aims to promote entrepreneurship in technical textiles by funding early-stage innovations.
- Provisions and Features:
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- Financial Support: Startups receive grants of up to ₹50 lakh for up to a period of 18 months.
- No Royalty Requirement: Unlike private funding, the government does not take a share of the startup’s profits.
- Upfront Contribution: Startups must deposit 10% of the allocated grant (e.g., ₹5 lakh for a ₹50 lakh grant).
- Sector Focus: Covers Medical, Industrial, and Protective Technical Textiles.
- Budget Allocation: Part of the ₹375 crore funding for FY 2025 under NTTM.
Back2Basics: National Technical Textiles Mission (NTTM)
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PYQ:[2013] Analyse the factors for highly decentralized cotton textile industry in India. |
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