NEWS

22 Commercialization Deals Signed
August 31, 2009, Asian Military Review, Hyderabad

The DST-Lockheed Martin India Innovation Growth Programme achieved another milestone today with the signing of 22 commercialization deals by the winners of this unique nation-wide initiative. The deals signed at the Hyderabad Technology Expo included six deals signed with international companies, placing the winners on a global platform.

Many of the programme winners and those signing the commercialization deals had technologies that dealt with medical and environmental initiatives. These included a chemical catalyst based process that converts hydrocarbon based material into fuels; a technology to convert algae into diesel fuel; nano polymer coating on coronary stents; heart sound analyzer; and a technology to create more efficient and reliable blades for generating wind power.

Inaugurating the Technology Expo, where programme winners of the earlier years had showcased their innovative technologies, Shri Kanna Lakshmi Narayana, Hon'ble Minister of Major Industries, Commerce & Export Promotion and Food Processing, Government of Andhra Pradesh, stated, 'India has a number of innovative technologies and ideas but there is lack of structure to take minds to the market. Today, mind to market initiatives such as the India Innovation Growth Programme are imperative to ensure a win-win situation for both-the innovators and the industry. We have to transform India into a knowledge society with innovation as the thrust area'.

Speaking on the occasion, Dr. Ray O Johnson, Lockheed Martin Senior Vice President and Chief Technology Officer, stated, 'This programme, now in its third year, continues to mature and stand out for its uniqueness in helping rising entrepreneurs identify markets and partnerships for their innovation and develop business strategies. The collaboration and partnerships we have established with the India Government's Department of Science and Technology, the Federation of Indian Chambers of Commerce and Industry, the Indo-US Science & Technology Forum and the IC2 Institute, have led to national acceptance for the programme, making it eagerly anticipated by India's growing numbers of inventors and innovators. We continue to be impressed with the tremendous spirit for invention and innovation that exists here and are committed to a long-term relationship with India.'

Addressing the gathering Mr. H.K. Mittal, Advisor & Head, National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology, Govt. of India said, 'Innovation has emerged as an important common instrument in the hands of entrepreneurs, corporate sector and the policy makers that is capable of positively affecting the lives of humanity. While it is useful when applied by each of these sectors, individually but when used in synergistic manner and in partnership it leverages the strengths of each partner significantly. The public private partnership established for the India Innovation Growth Programme is a successful example of building on the strengths of each partner."

Dr. Arabinda Mitra, Executive Director, Indo-US S&T Forum, stated that, 'The India Innovation Growth Programme is an example of seamless public-private partnership model designed to foster an ecosystem that encourages innovation and creativity in India by nurturing and promoting promising early-stage technologies to find markets in India, US and around the world'.

Welcoming the guests, Mr. V.K. Topa, Advisor to Secretary General, FICCI said 'The India Innovation Growth Programme is an attempt to identify and fill in the existing gap between technological innovations and their appropriate commercialization. There is a strong need to create higher synergies between the world of science and the world of business to ensure that the intellectual capital available with our scientific fraternity gets appropriately translated into commercial products and services for the benefit at large'.

Speaking at the occasion, Mr. Len Denton, Programme Manager, IC2 Institute, University of Texas at Austin said 'We are quite pleased with the results achieved by our innovators thus far this year. Our medalists from previous years are also doing well. We appreciate the sponsorship provided by Lockheed Martin and DST to help us achieve the gains we've showcased today, with hopefully even more to come in the future.'

The nation-wide programme was started with the objective of enhancing the growth and development of India's entrepreneurial economy. The aim of this programme is to accelerate innovative new Indian technologies into markets in the United States and around the world. The India Innovation Growth Programme is the only programme of its kind, because of its focus on teaching and using world-class commercialisation strategies. 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.