Innovate to Lead

Programme for Modernisation and Innovation Promotion in Micro, Small and Medium-Sized Enterprises in India (MSME INNO)

Strengthen the innovation ecosystem for the MSMEs to make them more competitive and sustainable by promoting modernisation and adopting green innovations.

The Micro, Small and Medium-sized Enterprises (MSMEs) sector in India contributes significantly to employment, industrial output, and exports. And bringing in innovation is a key to drive their growth. It is central for sustainability, growth & competitiveness in the context of ever-changing market dynamics. Currently the sector faces several challenges such as lack of innovation-enabling support in key areas of technology transfer, innovation management etc., there is a disconnect amongst the actors (industry and specifically, small enterprises, research institutions, buyers, technology suppliers etc.) and there is a pressure to implement more environmentally sustainable production processes.

In order to address the existing challenges, MSME INNO promotes the active involvement of the Government, academia and business member organizations to improve the innovation capacity and sustainability of MSMEs and strengthen its long-term competitiveness.

The Result: The MSMEs would have access to modern techniques, and environmentally friendly inclusive innovations that will help to create new economic opportunities for the MSME sector. This would help them lead in the market place to stand as a large employer or producer of the country and contribute to the GDP or exports.

The project facilitates joint industry projects by fostering cooperation between industry, academia and government to enable the MSMEs with innovative solutions for industry-specific problems. Institutions that promote economic development such as business chambers and associations are supported in developing a range of innovation-enabling services for MSMEs. In line with the efforts towards creating an environment for innovation promotion and entrepreneurship development, business incubators are becoming popular that can benefit new ventures, particularly by adding credibility through association, access to shared and more affordable resources and by providing professional expertise and advice.

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