NEWS

Lockheed Martin to partner in innovation growth plan
The Financial Express, September 11, 2010

US-based defence major, Lockheed Martin set to announce its extended support for the landmark Indian Innovation Growth Programme, which boosts Indian technical breakthroughs by helping transition them to market.

In collaboration with the ministry of science and technology, Lockheed Martin is extending support for the programme through 2012. “Today’s increasingly complex, global challenges require innovative and affordable solutions,” said Ray O Johnson, senior vice-president and chief technology officer, Lockheed Martin Corporation. Johnson added, Innovation is a key driver to solving these global challenges, and this programme will nurture the new ideas that will become these solutions.” According to VK Topa, advisor to the secretary-general of Ficci, “The India Innovation Growth Programme is an attempt to identify and fill in the existing gap between technological innovations and their appropriate commercialisation.”

The India Innovation Growth Programme, launched in March 2007, has helped Indian innovators successfully transition their technologies to both the Indian and global markets. This nationwide programme enhances the growth and development of India’s entrepreneurial economy, and it accelerates the introduction of new, innovative Indian technologies into markets in the US and around the world.

The only programme of its kind, the India Innovation Growth Programme focuses on training the entrepreneurs using world class commercialization strategies.

Since its introduction in India, the program has received an overwhelming response from innovators, inventors, scientists and researchers working across diverse sectors throughout India. So far, 240 innovators have received training on commercialization strategies. In addition, advanced training in areas such as technology commercialization strategies, venture formation and finance, and marketing has been provided to 120 innovators.