Startup action plan: 120 ventures get patents, 1 granted in just 101 days

As many as 120 startups have received patents for their products until March 31 this year under the Startup India action plan, according to the Department for Promotion of Industry and Internal Trade's data.

Steps taken by the department has led to the grant of a patent in only 101 days to a startup, MicroGO LLP.

Tamil Nadu-based startup MicroGO received the patent for their 'Tubelet' technology mainly used for water purification, sanitisation and sterilisation.

Another startup from Jammu and Kashmir, SID07 Designs, received a patent for its product - single-step automobile wheel-nut assembly machine and method - in six months only.

The department has taken several steps under the Startup India action plan, which was launched in 2016, to encourage budding entrepreneurs to file patent and trademark applications.

The Department for Promotion of Industry and Internal Trade (DPIIT) launched a scheme for facilitating the filing of intellectual property applications by startups. It has also empanelled facilitators, whose fees are borne by the government.

It provides 80 per cent rebate in patent filing and 50 per cent for trademarks. They also have a facility for expeditious examination of patent applications by startups.

According to the data, as on March 31 this year, 450 applications were filed since 2016 under the fast examination facility and 120 patents were granted and 42 were refused for certain reasons.

Generally, it takes about 4-7 years for the grant of patents, but the department is taking steps to drastically reduce this time to 18 months.

Commenting on the patent, MicroGO LLP founder Rachna Dave said that the facility provided by the DPIIT is a great help for startups to receive patents, which enhance the value of their products.

"We benefitted from the Startup India action plan which provides relaxation in the filing of applications and fees. We do not have to go through the long process," Dave told PTI.

Founder of SID07 Designs Siddarth Gupta said that he has received the patent for his machine in only "six months".

"The product is used to assemble wheels in any vehicle. It will help in cutting time and cost," he said.