Incubation Scheme
MSME Innovative Scheme: Design Component
The MSME Innovative Scheme: Design Component supports registered Indian MSMEs in developing innovative product designs, strengthening design capabilities and improving manufacturing competitiveness through grant support of up to ₹40 lakh.
MSME Innovative Scheme: Design Component is an initiative of the Ministry of Micro, Small & Medium Enterprises, Government of India, aimed at promoting design-led innovation, product development and manufacturing competitiveness among Indian MSMEs.
The scheme focuses on helping MSMEs strengthen their product design capabilities, bridge the gap between innovative ideas and commercialisation, adopt modern design and technology, and improve their competitiveness.
Funding Support
Eligible MSMEs can explore grant support of up to ₹40 lakh for eligible product design innovation activities, subject to the applicable scheme guidelines, eligibility conditions and approval process.
Who Can Apply?
The programme is aimed at:
Registered MSMEs with valid Udyam Registration
MSME units involved in manufacturing or product development
Businesses with innovative product or design ideas
Enterprises pursuing technology-led growth
Businesses committed to innovation and scalability
Key Benefits
Financial Grant
Grant support of up to ₹40 lakh for eligible product design innovation.
Product Design Support
Assistance for strengthening product design and development capabilities.
Expert Mentorship
Access to relevant design and innovation expertise.
Technology & Infrastructure Support
Support for adoption of appropriate technology and design capabilities.
Innovation-led Growth
Helps MSMEs strengthen their ability to develop and commercialise innovative products.
Market Competitiveness
Supports improved product quality, design capabilities and manufacturing competitiveness.
Scheme Highlights
Government of India initiative
Implemented under the Ministry of MSME
Focus on product design and innovation
Support for quality and innovation-led competitiveness
Promotes technology adoption and product development
Supports the broader Make in India vision
The scheme is designed to help eligible MSMEs transform innovative product ideas into commercially viable solutions while strengthening India's manufacturing and innovation ecosystem.
Innovate. Design. Manufacture. Grow with Government Support.
Our Process
From idea to execution, with clarity at every step
A practical, founder-friendly journey designed around your eligibility, documents and goals.
Understand
We learn about your venture, goals and current stage.
Assess
We review eligibility, opportunity and the right incubation route.
Prepare
We organise the application, business information and supporting documents.
Support
We guide submission, respond to requirements and follow up through the process.
Frequently Asked Questions
Incubation support, explained clearly
What does incubation support include?
We help founders understand the opportunity, assess eligibility, prepare supporting information, organise documents and stay on track during submission and follow-up.
Do I need an established business to apply?
Requirements differ by programme and founder stage. We review your idea, entity status and documents first, then explain the most suitable route.
Will FinGrow guarantee approval?
No. Approval is decided by the relevant authority or incubator. Our role is to improve clarity, readiness and process discipline.
Eligibility
Eligibility details can be reviewed by our advisory team based on your profile.
Benefits
Guidance on applicable benefits, subsidy support and documentation readiness.
Required Documents
Document requirements vary by scheme. Our team will share a precise checklist during consultation.
Send Scheme Inquiry
Need help with MSME Innovative Scheme: Design Component?
Talk to FinGrow for eligibility review and application guidance.
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