New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The government will provide a grant-in-aid of up to Rs

    50 lakh for startups and individuals to promote innovation in the niche technical textiles segment.      The textile ministry will additionally provide ________ of total grant-in-aid to incubators.
    A 10 percent Correct Answer Incorrect Answer
    B 12 percent Correct Answer Incorrect Answer
    C 14 percent Correct Answer Incorrect Answer
    D 18 percent Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The government will provide a grant-in-aid of up to Rs 50 lakh for startups and individuals to promote innovation in the niche technical textiles segment.The Startup Guidelines for Technical Textiles - Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) providing grant-in-aid of up to Rs 50 lakh for up to a period of 18 months has been approved.With a strong emphasis on developing the Startup Ecosystem in Technical Textiles, the guidelines focus on supporting individuals and companies to translate prototypes to technologies & products, including commercialisation.The textile ministry will additionally provide 10 percent of total grant-in-aid to incubators.To strengthen authenticity and commitment towards the project, a minimum investment of 10 percent of the funding from the incubatee in two equal installments is mandated.            The startup guidelines (GREAT) are aimed at providing the much-needed impetus for the development of the technical textiles startup ecosystem in India, especially in niche sub-segments such as biodegradable and sustainable textiles, high-performance and speciality fibers, and smart textiles, among others.

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