In News: Government has revised the scheme for facilitating Start-Ups Intellectual Property Protection (SIPP) to upgrade the professional charges of the facilitators.
- The facilitation fees increased by at least 100 percent.
About the scheme:
- The scheme was launched in 2016
- The revised scheme is applicable from 02 December 2022.
- The Scheme is implemented by the Controller General of Patents, Designs, and Trade Mark CGPDTM (under DPITT – MoCI).
- to protect and promote Intellectual Property Rights (IPR) of Startups.
- to encourage innovation and creativity
- to promote awareness and acquire of IPRs among the Start-Ups.
- To assist in protecting and commercializing IPRs by providing access to high-quality IP services and resources.
- Companies must be recognized as Start-Up by DPIIT under Start Up India Initiative.
- Period of existence should not exceed 10 years.
- Annual turnover Rs. 100 crore for any financial year since inception.
- Entity should be working towards development of a product, process, or service.
- Patent applications filed by Start-Ups have increased from 179 in 2016-17 to 1500 in 2021-22.
- Trade Mark applications filed by Start-Ups have increased from four in 2016-17 to eight thousand 649 in 2021-22.