Government Spurs Mining Sector R&D with Startups and MSMEs

In a significant move towards fostering innovation and research in the mining, mineral processing, metallurgy, and recycling sector, the government has announced its intention to invite proposals from startups, micro, small, and medium enterprises (MSMEs), and individual innovators. The Mines Ministry revealed this initiative on Wednesday, outlining a comprehensive plan to provide crucial support and resources for selected projects aimed at pushing the boundaries of technological advancements in the mineral industry.

Government Spurs Mining Sector R&D with Startups and MSMEs

The Mines Ministry is gearing up to kickstart a wave of research and development (R&D) in the mining sector through its groundbreaking initiative. The primary objective is to encourage startups, MSMEs, and individual innovators to contribute to the enhancement of mining technologies, mineral processing methodologies, metallurgical advancements, and recycling innovations.

Selected startups and MSMEs will not only have the opportunity to receive financial support but will also benefit from mentorship, incubation support, and technical advisory services throughout the entire project development period. This strategic move aims to create an ecosystem that nurtures and guides innovators, ensuring the successful execution of their projects.

In a bid to facilitate a seamless transition from project completion to self-sustainability, the government has committed to providing an additional two years of incubation support to the chosen startups and MSMEs. A dedicated facilitation and mentorship team, operating under the implementing agency, will continue to assist these entities beyond the technical completion date.

The government has released comprehensive guidelines under the banner of ‘promotion of Research and Innovation in Startups and MSMEs in mining, mineral processing, metallurgy, and recycling sector (S&T-PRISM).’ These guidelines set the framework for the submission of proposals, emphasizing a two-year project duration that should directly impact the mineral sector and demonstrate applied and sustainable solutions with industrial applications.

Startups, MSMEs, and individual innovators are encouraged to submit proposals for projects that align with the objectives of S&T-PRISM. The government is prepared to provide funding for qualifying projects, enabling innovators to not only conduct groundbreaking research but also reach a stage where they can attract investments or secure loans from commercial banks and financial institutions.

The government’s move to invite proposals for R&D in the mining sector demonstrates a commitment to fostering innovation, sustainability, and technological advancements. By providing a supportive ecosystem and financial backing, the initiative aims to propel startups, MSMEs, and individual innovators into positions where they can contribute significantly to the growth and development of the mining, mineral processing, metallurgy, and recycling industries. This marks a crucial step towards a future where cutting-edge technologies drive the mineral sector towards new heights of efficiency and sustainability.

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