The Department of Scientific and Industrial Research provides DSIR in-house R&D Recognition to software product and manufacturing companies.
Okay, so you have done your research and are now sure that you are eligible to apply for the coveted DSIR in- house R&D Recognition. While you are on your way to write the application, here we are to help you avoid common mistakes that people make in their application and jeopardise their chances of getting recognised.
1. A company, most of the times, is selling it’s products. Therefore, it should be documented in the application as ‘selling the product(s) of R&D’.
2. Always make it a point to show all of your R&D expenses in the annual report as well as in the balance sheet. This makes it easier for the identification of R&D expenses.
(We, at 2AB Consultants, have substantial practical experience in the identification of hidden R&D processes and R&D expenses)
3. Make sure to maintain a ratio of R&D manpower with respect to the current and future R&D projects shown in the application. Additionally, the ratio of company’s total manpower to R&D manpower should also be maintained.
4. People often submit the whole layout of the company in the DSIR application. However, during the application submission process, nothing but the layout of R&D centre(s) is required. The layout should be a basic line diagram with entry/exit points, dimensions and markings.
5. One of the huge mistakes that the applicants make while making the DSIR Application is, not showing the proper R&D assets. This results in projecting far less R&D infrastructure than there is. So, one should show all the relevant capital assets of R&D.
6. Focus more on your R&D projects as they are of the utmost priority while DSIR considers your application. The R&D projects should not only be about new product/ process development but also about new technology development, replacing the existing technology.
7. And lastly, always try to get your new products or processes patented. Although not mandatory it definitely earns you some extra cookies.
Now that you have the checklist, review your application and be on your way to getting recognised by the DSIR!!
(To know the list of documents needed for DSIR Application, click here.)