The Union Ministry of Mines announced on Wednesday that it has decided to fund research and innovation in startups and MSMEs in the mining, mineral processing, metallurgy and recycling sector (S&T-PRISM) and has brought out guidelines for the scheme. Proposals will be invited from Startups, MSMEs and Individual Innovators which have a direct bearing on the minerals sector, applied and sustainable aspects of mining and industrial applications, for funding up to two years, the ministry said. The decision can enable them to graduate to a level where they will be able to raise investments or they will reach a position to seek loans from commercial banks/financial institutions. The funding is positioned to act as a bridge between development and commercialization of innovative technologies/products/services in a relatively hassle-free manner, the ministry's statement explained.