Startups in textiles sector: Indian startups in technical textiles will now be eligible for a grant of up to Rs 50 lakh to innovate and build technology-led products and commercialize them. Rajeev Saxena, Joint Secretary Textiles during a press conference on Tuesday informed that the Textiles ministry has approved the ‘Startup Guidelines for Technical Textiles – Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT)’ to provide “grant-in-aid up to Rs 50 Lakhs for up to a period of 18 months.”
Technical textiles are defined as textile materials and products used primarily for their technical performance and functional properties rather than their aesthetic or decorative characteristics, according to the Indian Technical Textile Association. They are used individually or as a component/part of another product to enhance the strength, performance or other functional properties of that product.
Employed in the automotive, aviation, railway, shipbuilding and other industries encompassing a wide array of products, technical textiles include nylon tyre cord fabrics, fabrics for seat covers and upholstery, seat belts, cabin filters, tufted carpets, helmets, insulation felts, carpets for automotive interiors, sun visors/sun blinds, airbags, seat belt webbing, car body covers, etc.
“The GREAT Guidelines provide thrust in technical textiles’ application areas including agro-textiles, building-textiles, geo-textiles, home-textiles, medical textiles, mobile textiles, packaging- textiles, protective-textiles, sports-textiles, development of high-performance fibres and composites, sustainable and recyclable textile materials, etc.,” the ministry said in a statement.
It also informed that an additional 10 per cent grant will be offered to incubators for supporting startups while startup incubatees will have to invest a minimum of 10 per cent of the funding amount “to strengthen authenticity and commitment towards the project.”
Some of the institutes to be funded under the scheme to support startups are IIT Delhi, NIT Jalandhar, NIT Durgapur, NIT Karnataka, NIFT Mumbai, ICT Mumbai, Anna University, PSG College of Technology, Amity University and others.
Under the programme, Rs 151.02 crores were approved which included 15 applications valuing Rs 105.55 crores from public institutes and 11 applications valuing Rs 45.47 crores from private institutes. The ministry also approved 26 institutes to upgrade their laboratory infrastructure and training of trainers in the application areas of technical textiles.