Micro Merchant Systems Wins Stevie Award® for Outstanding Product Innovation in the 2023 American Business Awards®

 Micro Merchant Systems, Inc., developer of the PrimeRx™ pharmacy technology management system has been recognized for “Achievement in Product Innovation” and awarded a bronze Stevie® Award in the 2023 American Business Awards® competition.

PrimeRx™ is a leading pharmacy management system that offers comprehensive functionality and adds efficiency across all pharmacy workflows. The system is highly user-friendly and intuitive, and can be customized for each pharmacy’s unique requirements.

“We are honored to be selected for this prestigious award, which recognizes our success in developing innovative solutions for the pharmacy industry,” said Micro Merchant Systems CEO Ketan Mehta. “For more than 30 years, our goal has been to add efficiency to pharmacy workflows, so pharmacists can have more time for one-on-one patient interactions,” he added.

Micro Merchant Systems was evaluated by a panel of independent judges who cited the company for the scope of its solutions, innovation, and responsiveness to pharmacy needs. “Your nomination has left me thoroughly impressed,” noted one judge.

The Stevie Award program was launched in 2002 as a way to highlight and honor achievements of organizations and professionals throughout the world. The American Business Awards is a division of the Stevie program, and honors organizations operating withing the United States. This year more than 3,700 nominations were submitted to the American Business Awards competition, representing organizations of all sizes and a multitude of industries.

“The American Business Awards honor individuals and businesses that are truly at the top of their game, and we are honored to be in such esteemed company,” Mehta added.

Micro Merchant System will join other honorees at a gala ceremony scheduled for June 13 in New York City.

About Micro Merchant Systems
Micro Merchant Systems pharmacy technology company has been committed to addressing the needs of independent pharmacies for more than 30 years. Over 4,000 pharmacies throughout the United States and Puerto Rico trust Micro Merchant Systems to add efficiency and automation to core workflows and processes. All pharmacy types – single store, multi-store, compounding, long-term care, clinic, 340B, specialty, enterprise – rely on Micro Merchant Systems for innovative solutions that keep pace with rapidly-changing needs.

The Windows-based PrimeRx™ operating system serves as the solution’s “command central.” Pharmacies can add functionality, based on their unique needs, by choosing from an extensive portfolio of solution modules. PrimeRx™ pharmacies also benefit from direct integration with more than 100 leading third-party solutions.

About the Stevie Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide.

Micro Merchant Systems
Michele Daniels



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Micro Entrepreneurs in Rural Areas

Under Startup India Initiative, entities including Micro enterprises are recognized by Department for Promotion of Industry and Internal Trade (DPIIT) as Startups as per eligibility conditions prescribed under G.S.R. notification 127 (E) dated 19th February, 2019. All initiatives under the Startup India are inclusive and are implemented across States, cities, towns and rural areas. The recognised startups can avail benefits under the Startup India Initiative is given below:

  1. Startup India Seed Fund Scheme (SISFS): Easy availability of capital is essential for entrepreneurs at the early stages of growth of an enterprise. The capital required at this stage often presents a make or break situation for startups with good business ideas. The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. Rs. 945 crore has been sanctioned under the SISFS Scheme for period of 4 years starting from 2021-22. It will support an estimated 3,600 entrepreneurs through 300 incubators in the next 4 years.
  2. Fund of Funds for Startups (FFS) Scheme: The Government has established FFS with corpus of Rs. 10,000 crore, to meet the funding needs of startups. DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. The total corpus of Rs. 10,000 crore is envisaged to be provided over the 14th and 15th Finance Commission cycles based on progress of the scheme and availability of funds. It has not only made capital available for startups at early stage, seed stage and growth stage but also played a catalytic role in terms of facilitating raising of domestic capital, reducing dependence on foreign capital and encouraging home grown and new venture capital funds.
  3. Ease of Procurement: To enable ease of procurement, Central Ministries/ Departments are directed to relax conditions of prior turnover and prior experience in public procurement for all Startups subject to meeting quality and technical specifications. Further, Government e-Marketplace (GeM) Startup Runway; a dedicated corner for startups to sell products & services directly to the Government.
  4. Self-Certification under Labour and Environmental laws: Startups are allowed to self-certify their compliance under 6 Labour and 3 Environment laws for a period of 3 to 5 years from the date of incorporation.
  5. Income Tax Exemption for 3 years: Startups incorporated on or after 1st April 2016 can apply for income tax exemption. The recognised startups that are granted an Inter-Ministerial Board Certificate are exempted from income-tax for a period of 3 consecutive years out of 10 years since incorporation.
  6. Exemption for the Purpose Of Clause (VII)(b) of Sub-section (2) of Section 56 of the Act: A DPIIT recognized startup is eligible for exemption from the provisions of section 56(2)(viib) of the Income Tax Act.
  7. Faster Exit for Startups: Ministry of Corporate A­ffairs has notified Startups as ‘fast track firms’ enabling them to wind up operations within 90 days vis-a-vis 180 days for other companies.
  8. Support for Intellectual Property Protection: Startups are eligible for fast-tracked patent application examination and disposal. The Government launched Start-ups Intellectual Property Protection (SIPP) which facilitates the startups to file applications for patents, designs and trademarks through registered facilitators in appropriate IP offices by paying only the statutory fees. Facilitators under this Scheme are responsible for providing general advisory on diff­erent IPRs, and information on protecting and promoting IPRs in other countries. The Government bears the entire fees of the facilitators for any number of patents, trademark or designs, and startups only bear the cost of the statutory fees payable. Startups are provided with an 80% rebate in filing of patents and 50% rebate in filling of trademark vis-a-vis other companies.
  9. Startup India Hub: The Government launched a Startup India Online Hub on 19th June 2017 which is one of its kind online platform for all stakeholders of the entrepreneurial ecosystem in India to discover, connect and engage with each other. The Online Hub hosts Startups, Investors, Funds, Mentors, Academic Institutions, Incubators, Accelerators, Corporates, Government Bodies and more.
  10. International Access to Indian Startups: One of the key objectives under the Startup India initiative is to help connect Indian startup ecosystem to global startup ecosystems through various engagement models. This has been done though international Government to Government partnerships, participation in international forums and hosting of global events. Startup India has launched bridges with over 13 countries (Brazil, Sweden, Russia, Portugal, UK, Finland, Netherlands, Singapore, Israel, Japan and South Korea, Canada, Croatia) that provides a soft-landing platform for startups from the partner nations and aid in promoting cross collaboration.
  11. National Startup Awards: National Startup Awards is an initiative to recognize and reward outstanding startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact.

Prime Minister’s Employment Generation Programme (PMEGP), a credit-linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth, is operational. The Scheme was launched during FY 2008-09. Under the Scheme, general category beneficiaries can avail of margin money subsidy of 25 % of the project cost in rural areas and 15% in urban areas. For beneficiaries belonging to special categories such as scheduled caste/scheduled tribe/OBC /minorities/women, ex-serviceman, physically handicapped, North-east region, Hill and Border areas etc. the margin money subsidy is 35% in rural areas and 25% in urban areas.

Further, the Fund of Funds for Startups Scheme and the Startup India Seed Fund Scheme are operational to provide capital at various stages of business cycle of a startup.

Under the Fund of Funds for Startups Scheme (FFS), a corpus of Rs. 10,000 crore has been sanctioned, spread over 14th and 15th Finance Commission cycles. The Scheme is operated and managed by Small Industries Development Bank of India (SIDBI). The Scheme does not directly provide financial assistance to startups, instead supports SEBI- registered Alternative Investment Funds (AIFs), who in turn invest money in growing Indian startups through equity and equity-linked instruments.

Under the Startup India Seed Fund Scheme (SISFS), Rs. 945 crore has been sanctioned for period of 4 years starting from 2021-22. The funds are released to Startups through approved Incubators.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash, in a written reply in the Lok Sabha today.



(Release ID: 1794837)
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