MSMEs Need Technology, IP and Better Access to Finance to Scale: Mrutunjay Suar

• MSMEs should integrate affordable technology and AI across business operations to expand beyond regional markets.

• Patents, copyrights and technology licensing can help protect innovations and create competitive advantages.

• Greater awareness of government funding, incubators, accelerators and mentors can help MSMEs overcome funding and technical gaps.

Micro, small and medium enterprises (MSMEs) need to move beyond simply running businesses and build technology-enabled, scalable enterprises to unlock their growth potential, said Mrutunjay Suar of KIIT-TBI.

Addressing a masterclass on “Unlocking Working Capital for Business Growth” at the Outlook MSME Growth Conclave – Odisha 2026, Suar said the biggest challenge for MSMEs was not merely the availability of resources but awareness, mindset and the ability to adopt technology.

“Technology is not expensive. Say it is affordable, adaptable and scalable,” Suar said, urging MSMEs to integrate technology across their businesses, from finance and bookkeeping to production, communication and security.

He said artificial intelligence would increasingly become an essential business tool and MSMEs needed to prepare themselves for its adoption. While some technologies may be expensive, several affordable and scalable solutions are already available to smaller businesses.

According to Suar, technology adoption can help MSMEs move beyond regional markets and build businesses capable of scaling nationally and globally.

He also stressed the importance of intellectual property (IP) for MSMEs. Patents, copyrights and other forms of IP protection can provide businesses with a competitive advantage and prevent innovations from being copied by competitors.

“IP is very important,” Suar said, adding that MSMEs should understand patent filing, prosecution and freedom-to-operate assessments before taking innovative products to market.

Suar also highlighted the need for greater awareness of government funding and support programmes. He cited the Technology Development Board as an example of an avenue through which technology-based manufacturing companies can access capital support.

“There is an agency called Technology Development Board which gives funding,” he said, pointing out that many entrepreneurs remain unaware of such opportunities despite substantial funds being available for technology-led enterprises.