Startups Intellectual Property Rights Protection to promote innovation: MoS

The Union Minister of State (independent official) for Science and Technology, Jitendra Singh, said that the “Protection of Intellectual Property Rights for Startups” aims to boost innovation and entrepreneurship.

In his inaugural address at the ‘National Intellectual Property Festival’, organized by CSIR at the National Physical Laboratory in New Delhi, Dr. Jitendra Singh said, “The filing of Intellectual Property Rights (IPR), including patents and trademarks, by StartUps, along with Together with industrial linkages, it will encourage innovation and spur entrepreneurship in India. Under the leadership of Prime Minister Shri Narendra Modi, after the government came up with the Intellectual Property Rights Act in 2016, the trademark registration process was reduced to one month, which is more than a year ago.”

“Soon after, the ‘Protection of Intellectual Property Rights for Startups’ scheme was implemented, which provides for an 80 percent discount in patent registration and a 40 percent to 50 percent discount for industry and companies,” the minister said.

Dr. Jitendra Singh said, Prime Minister Shri Narendra Modi has launched several schemes that complement each other to strengthen the startup ecosystem and build capabilities. “You can pair up startups with, for example, you have the Mudra scheme, which offers you a loan of 10 to 20 lakhs with no bonus, no mortgage, almost no interest,” the statement said.

It is noteworthy that with the vision to protect the intellectual property rights of startups, the government launched a plan, Intellectual Property Protection for Startups (SIPP), to encourage innovation and creativity in startups. Startups are given an 80 percent discount on patent filing fees and facilities for expedited examination of patent applications. Under the new trademark rules, startups have been given a 50 percent discount in filing fees against other companies, according to a press release from the Ministry of Science and Technology.

She added that even for the promotion of registration of industrial designs by StartUps under the new design amendment rules of 2021, the government has reduced filing and prosecution fees for small entities.

There is a big round of encouragement and promotion for both StartUps in terms of being innovators and entrepreneurs, the minister said, the press release reads.

“In the last nine years, Prime Minister Modi has paid tribute to science and scientists and has also raised it as a topic for international deliberations. Even during his just-concluded visit to the US, the dominant theme in the joint statement was issues related to science, – from which Dr. Jitendra Singh said in the press release: “Semiconductors to Space for the International Space Station, Artemis Convention”.

In the Global Innovation Index, we jumped 31 places – from 81st to 40th; In the startup ecosystem, we started very late, in 2016, when Prime Minister Modi made a call from the Red Fort in his Independence Day speech, but in just two years, we have reached the 3rd rank in the startup ecosystem in the world.”

Dr. Jitendra Singh called for bringing together the digital repository of traditional knowledge and heritage with modern scientific innovation, and by institutionalizing this mechanism, we can gain a cutting-edge edge in sectors like Khadi, Aroma Mission, and Lavender cultivation.

“I am convinced that this is one of the best times to happen, the best times to happen, and if we are in this StartUp IPR protection, we have the advantage of complementing our StartUp projects with our traditional knowledge, which doesn’t happen as often as it can happen here. And if we do We will actually have an advantage over other countries,” he said, the press release stated.

The minister said that in nine years of government led by Prime Minister Modi, because he had this kind of vision, today we are walking at an even pace and on par with developed countries, the press release said.

“Today, we are equal partners with other nations in applying the technology. In quantum computing, for example, we are in the same league as the developed world,” he said in the press release.