Government To Fund Indian Tech Startups Filing International Patents
Bangalore: The centre has announced a 5 year scheme this fiscal year which provides financial aid to budding technology startups filing international patents. The proposal was made in order to support the developing ventures in the country, reports Times of India.
The scheme provides up to half the amount of expense incurred while filing a patent, it also re-funds the fee paid to a legal representative. This move would certainly help young startups and entrepreneurs who pay heavy amount while filing a patent.
"We will bear all costs up to a limit of 
15 lakh for each patent application," said an official from the Ministry of Communications and Information Technology to TOI. Technology ventures having annual budget under 10Cr for R&D will also qualify for this scheme.
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