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January 12, 2004

Nasscom proposes fund to help SMEs file patents


The National Association of Software & Services Companies (Nasscom) has proposed a special fund, in association with the Indian government, to provide financial assistance to small and medium sized software products firms to file patents, Financial Express reports quoting Nasscom president Kiran Karnik.

The quantum of the funds required for each company will be determined by a Nasscom-designated committee based on the importance of the product and the extent of handholding required. The funds will be provided initially as a loan. If the patent application is successful, the amount will be converted into a grant.

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