NEWS

India benefits from Lockheed programme
The Hindu, August 5, 2008

MUMBAI: Indian innovators from small and medium enterprises (SMEs) looking to market their technologies and ideas received a boost when eight business deals were signed under the auspices of the Lockheed Martin India Innovation Growth Programme, a joint initiative of the defence major, the Federation of India Chambers of Commerce and Industry (FICCI) and IC2 Institute, University of Texas at Austin.

The innovations are low-cost cooling without using air-conditioners, production of bio-nutrient fertilizers and converting urban waste like plastic into engine oil. The deals were signed in the presence of Rajiv Jalota, CEO, Maharashtra Industrial Development Corporation (MIDC), Niraj Sharma, Advisor, Department of Science and Technology, Union Government, and Ray Johnson, Chief Technology Officer, Lockheed Martin.

The Lockheed Martin India Innovation Growth Programme was launched by the U.S. space major and manufacturer of F-16 aircraft in 2007 and the programme is in its second year after the successful culmination of the first year with the signing of 13 commercialisation deals that helped the Indian innovators commercialise their innovations.In the last year, 300 applications were received of which 69 people have been trained and there were 30 short-listed with 15 chosen as medallists. The Department of Science and Technology will be supporting the programme in 2009 and 2010.

The programme was started with the objective of enhancing the growth and development of India’s entrepreneurial economy. The aim of the programme was to accelerate innovative new Indian technologies into markets in the U.S. and around the world.

The programme is the only one of its kind because of its focus on teaching and using world-class commercialisation strategies.