R&D Reimbursement Scheme
The scheme “R&D Reimbursement Scheme” is a part of the Start-up Policy 2017. The objective of the policy is to promote innovation amongst the Goans and local start-ups. 50% of R&D expenses, including salaries of PhD holders employed by start-ups, will be reimbursed for a period of two years.
About This Scheme
Benefits
The applicant can avail of the benefits of this scheme bi-annually/ annually.
> Disbursal
₹5.0 L · annual
50% of R&D expenses, including salaries of PhD holders employed by startups, will be reimbursed for a period of two years, subject to a cap of ₹ 5,00,000 per annum. The salary component must not be in excess of ₹ 2,00,000.
> Number of Slots
This benefit can be availed by a maximum of 100 startups each year.
> Validity
Once the application is approved by the SPC, the approved amount shall be disbursed within 60 days from the date of approval.
NOTE: Under no circumstance shall the benefits under this scheme be considered an entitlement. The SPC shall reserve the sole right to accept or reject applications.
Eligibility
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Required Documents
- ✦Copy of the Aadhaar Card of Director/ CEO*
- ✦Documents of PhD salaried employees*
- ✦HR letter certifying that the employment contract of employees fulfil conditions mentioned in the policy and work profile*
- ✦Contract of Employment (should be of at least 12 months)*
- ✦Salary slips of concerned employees*
- ✦Bank certification/ Bank account statement showing debit of salary*
- ✦Research proposal detailing the relevance and application of the research proposed*
- ✦Copy of research work*
- ✦Original Proof of Payment of R&D as per Cost and Accounting Standard 18*
- ✦The form and documents as mentioned in Annexure 1*
- ✦NOTE 1: The bank accounts of the Directors of the company should be linked to Aadhaar.
- ✦NOTE 2: The bank accounts of said employees should be linked to Aadhaar.
✦ Required ◦ Optional
How to Apply
Quick Info
- Level
- State Government
- Max benefit
- ₹5.0 L