March 1: The Ministry of Mines announced financial grants amounting to Rs. 6Cr to 5 Start-ups in the Mines and Minerals sector under the expanded S&T program.
A total of 56 start-ups and MSMEs participated in the S&T-PRISM program, with five being selected for funding totaling Rs. 6 crores, based on milestone achievements. Alongside financial support, these selected entities will receive mentorship, incubation support, and technical advisory assistance throughout their projects from a dedicated Facilitation & Mentorship Team.
Launched in November 2023, the Science and Technology Promotion of Research & Innovation in Start-ups and MSMEs (S&T-PRISM) initiative aims to fund research and innovation endeavors undertaken by startups and Micro, Small, and Medium Enterprises (MSMEs) operating in the mining and mineral sector.
The Jawaharlal Nehru Aluminum Research Development and Design Center in Nagpur, an autonomous body under the Ministry of Mines, has been appointed as the Implementing Agency for S&T-PRISM.
The Chosen 5 Start-ups were selected from 56 in the Mining and Mineral Sector
On February 29, 2024, the Union Minister of Coal, Mines, and Parliamentary Affairs handed over the letters of financial grants to the selected startups and MSMEs. The details of the funded projects are as follows:
- M/s Ashvini Rare Earth Pvt. Ltd., Pune, Maharashtra: Granted Rs. 1.5 crore for establishing a Pilot Plant for the extraction of Neodymium-Praseodymium metal from Neodymium-Praseodymium oxide.
- M/s Saru Smelting Pvt Ltd., Meerut, Uttar Pradesh: Granted Rs. 1.16 crore for establishing a pilot-scale plant for a Lithium ion-electro fusion reactor for alkali metals.
- M/s. L N Indtech Services Pvt Ltd, Bhubaneswar, Odisha: Granted Rs. 0.40 crore for research on Efficient and Sustainable Production of Alumina Hydrates through Electrolysis of Sodium Carbonate to Produce Hydrogen.
- M/s Cellark Powertech Pvt. Ltd., Cuttack, Odisha: Granted Rs. 1.7 crore for setting up a pilot-scale production of high-purity battery-grade silicon material for lithium-ion battery anodes.
- M/s Caliche Private Limited, Shillong, Meghalaya: Granted Rs. 1.2 crore for the development of a software named GARBH for the Exploration of Rare-Earth-Elements.
The initiative marks a significant step towards fostering innovation and promoting a comprehensive value chain in the mining and mineral sector, ultimately contributing to India’s technological advancement and economic growth.
The Ministry of Mines, Government of India, has been a longstanding supporter of research and development (R&D) initiatives in the mining and metallurgy sectors since 1978. Under the Science and Technology Programme (S&T Program), the ministry has aimed to enhance safety, economy, speed, and efficiency within these critical industries.
The Ministry of Mines will invite proposals under next round of S&T PRISM from 1st March 2024 with last date of submission of projects by 30th April 2024.
