NEWS

Lockheed innovation project bears fruits
Business Standard Reporter / Chennai/ Bangalore August 24, 2007

The two-year nationwide project, launched by Lockheed Martin and IC2 Institute of the University of Texas that aimed at promoting innovations and encouraging innovators, has seen three partnerships being forged.

The programme had envisaged to promote technologies with commercial potential.

It had a competitive selection process. Selected participants had received specialised business development training and funding opportunities. The programme is open to all Indian researchers, inventors, entrepreneurs and companies with early stage technologies.

The project was created to enhance the growth and development of India's entrepreneurial economy. The aim is to accelerate the spread of innovative new Indian technologies into new markets in the United States and around the world, said Alop K Mittal, adviser, FICCI.

According to Len Denton, a technology strategist at the IC2 Institute at The University of Texas, "The India Innovation Growth Program focused on teaching and using world-class commercialisation strategies."

The project had seen 14 innovations being shortlisted, and of these three have forged marketing and distribution relationships.

The Maharashtra State Seeds Corporation has partnered Cotton Plants (India) to licence its pollution-free cotton seed delinting technology. Cotton Plant will provide the Maharashtra State Seeds international manufacturing, marketing and distribution.

The Sustainable Technologies and Environmental Project Ltd too has signed an agreement with KM Sugar Mills (India) to supply caged catalyst conversion systems to convert sugar mill waste to petroleum, pending the successful outcome of tests being conducted at the Indian Institute of Petroleum.

A marketing and distribution agreement was also signed by Zeus Numerix with Adroitec Information Systems.