NEWS

Lockheed Martin competition winners sign deals
Business News, August 23,2007

By ANI

The Lockheed Martin India Innovation Growth Programme has reached a major milestone with the successful signing of deals by winners' of the competition.

This marked the first step in the globalisation of these technologies.

Maharashtra State Seeds Corporation Ltd has partnered with Cottor Plants (India) Pvt Ltd to license its pollution-free cotton seed delinting technology. Cottor will provide the Corporation with international manufacturing, marketing and distribution.

Another, Sustainable Technologies and Environmental Project Ltd has signed an agreement with K.M. Sugar Mills (India) to supply caged catalyst conversion systems to convert sugar mill waste to petroleum.

Zeus Numerix Pvt Ltd has signed a world-wide marketing and distribution agreement with Adroitec Information Systems. Adroitec will sell and service Zeus Numerix's full line of numerical simulation software products.

Speaking on the occasion, Dr. Ray O. Johnson, Lockheed Martin Senior Vice President and Chief Technology Officer, said: "It is a testament to the spirit of entrepreneurship and innovation resident in India to see the winners of the programme to achieve a major step forward in the globalisation of their products and technologies only five weeks after the competition results were announced."

The programme, a joint initiative of Lockheed Martin, FICCI and IC2 Institute, University of Texas at Austin, is the only programme of its kind, to focus on teaching and using world-class commercialisation strategies.

The two-year nation-wide programme was started with the objective of enhancing the growth and development of India's entrepreneurial economy.

The aim of the programme is to accelerate innovative new Indian technologies into markets in the United States and around the world.

Since its introduction in India, the programme has received an overwhelming response from innovators, inventors, scientists and researchers, working across diverse sectors throughout the country.

Several more agreements are anticipated as the programme progresses.

We look forward to the announcement of more business deals very soon, Johnson said.

Lockheed Martin reiterated its commitment to India and the India Innovation Growth Programme by announcing the start of the second year of this unique and highly successful initiative.

Len Denton, of IC2 Institute said: "We are eagerly looking forward to more successes as the programme enters its second year."