The Ministry of Mines has unveiled a groundbreaking initiative— the “Promotion of Research and Innovation in Start-ups and MSMEs in the mining, mineral processing, metallurgy, and recycling sector (S&T-PRISM).” This initiative seeks to propel startups, MSMEs, and individual innovators to the forefront of technological advancements with a keen focus on applied and sustainable aspects of mining.
Under the S&T-PRISM guidelines, proposals will be solicited from dynamic startups and MSMEs, inviting them to submit innovative projects spanning up to two years. The projects are expected to have a direct impact on the mineral sector, emphasizing practical and sustainable applications in mining and industrial processes. The Ministry envisions that successful ventures emerging from this initiative will be better positioned to attract investments or secure loans from financial institutions, marking a critical bridge between development and commercialization.
The core principle of S&T-PRISM revolves around translating research findings into tangible technologies, products, or services, steering clear of open-ended fundamental research. The emphasis is on nurturing innovation that results in new, demonstrable products or processes rather than limited to publications or patents.
The Jawaharlal Nehru Aluminium Research Development and Design Center, located in Nagpur and operating under the Ministry of Mines, will play a pivotal role as the implementing agency for S&T-PRISM. This autonomous body will oversee the selection and support of startups and MSMEs, ensuring a seamless transition from project development to mentorship and incubation.
Selected participants will receive invaluable mentorship, incubation support, and technical advisory assistance during the project development period and an additional two years post-technical completion. The facilitation and mentorship team under the implementing agency will offer support encompassing advisory services, networking opportunities, resource tapping, piloting, business planning, and fundraising. Piloting opportunities will be extended to supported startups and MSMEs in the mining, mineral processing, metallurgy, and recycling sectors.
The initiative places special emphasis on inclusivity by giving preference to startups and MSMEs from the North East region and women-led enterprises. This strategic approach aims to create a diverse and vibrant ecosystem of innovators in the mining and mineral processing landscape.
The move to strengthen the Science and Technology (S&T) base for mining Research and Development (R&D) is a recognition of its pivotal role in sustainable development. With a history of funding research since 1978, the Ministry of Mines is now charting new territories with this initiative, aligning with the National Mineral Policy's emphasis on prioritizing Research and Development (R&D) programs for safety, economy, speed, and efficiency in mineral resource extraction.
