In a remarkable move aimed at fostering innovation and economic growth, the Central government of India has unveiled an ambitious scheme known as the “Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles” or GREAT. Under this groundbreaking initiative, startups and individuals delving into the world of technical textiles will have access to financial assistance of up to ₹50 lakhs.
Supporting the Birth of Innovations
The primary objective of the GREAT scheme is to bolster the budding ecosystem of startups in the technical textiles sector. With an emphasis on converting prototypes into tangible technologies and products, including their commercialization, this initiative promises to be a game-changer. The scheme will provide support across a wide spectrum of technical textiles, encompassing agro-textiles, building textiles, medical textiles, smart textiles, and much more.
A Lifeline for Startups
One notable criterion for eligibility is that startups should not be more than five years old, encouraging fresh and dynamic entrants into the technical textiles arena. Additionally, the Ministry plans to extend a 10% grant to incubators to incentivize their participation. To demonstrate their commitment to their projects, incubatees are required to invest a minimum of 10% of the funding in two equal installments.
Boosting Technical Textiles Education
The government’s commitment to advancing technical textiles doesn’t stop at financial support. It has also greenlit the enhancement of laboratory infrastructure and training at 26 institutes, bolstering education and research in this field. Furthermore, 26 institutions have received approval for the introduction of technical textile courses and papers, along with the launch of new degree programs.
Stringent Quality Control Measures
Ensuring the quality and regulation of technical textiles is paramount. The government has taken the bold step of notifying two Quality Control Orders (QCOs) for 31 technical textile products, set to take effect from 7th October. These QCOs cover 19 geotextiles and 12 protective textiles, with additional orders for 28 products including agro-textiles and medical textiles in the pipeline. The Ministry is actively engaging with industry stakeholders to gauge the broader impact of these measures.
Bright Future for Technical Textiles
With the launch of the GREAT scheme and the government’s commitment to elevating the standards of technical textiles, the future looks exceedingly bright for this burgeoning industry. Startups and innovators now have the opportunity to transform their visionary ideas into reality, while educational institutions receive much-needed support to train the next generation of textile experts.
As India positions itself as a global hub for technical textiles, the impact of these initiatives on the economy, industry, and society at large promises to be nothing short of transformative. The world will be watching as India’s technical textiles sector embarks on an exciting journey of innovation and growth.