As a part of Start-up India initiative, the government has announced the slew of measures to protect the innovations of new-age entrepreneurs and expedite the patent examination process. The main objective of the plan was to raise awareness of IPR among startups and assist them in protection and commercialization of innovative and emerging technologies.
The Scheme of Facilitating Start-Ups Intellectual Property Protection (SIPP) is a part of the Start-Up India Action Plan 2016, supported by the Government of India. It aims at protecting, promoting awareness and encouraging innovation and creativity among startups.
The primary objective of the SIPP scheme is to promote awareness and the adoption of IPRs among start-ups. The SIPP ensures the following supports for Start-Ups to protect their IP assets.
- 80 % rebate in patent costs.
- 90 % fee reduction of natural persons.
- Faster patent registration and protection for Intellectual Property rights.
- IP facilitators to provide legal support and assist in filing of patent application.
- IP facilitators to provide legal support and assist in Trademark Registration.