NEWS

India Innovation Growth Program Launched
Official Show Daily, February 8, 2007

To enhance the growth and development of India's entrepreneurial economy, and to expand global export opportunities for new Indian technologies, Lockheed Martin in association with the Federation of Indian Chambers of Commerce and Industry (FICCI) in assistance with the IC2 launched the Lockheed Martin India Innovation Growth Program on the eve of the biannual Aero India 2007 show held at Bangalore. A two-year nation wide project aims to accelerate the launch of Indian early-stage technologies into the global market place.

"Lockheed Martin is sponsoring this initiative to demonstrate that we intend to be a corporate partner with the government and industries of India for many years to come in many different ways," said Robert Trice, Lockheed Martin's Senior Vice President of Business Development.

"We will provide all the funding for the India Innovation Growth Program and will be inviting Indian Technologists, researchers, inventors, and entrepreneurs to apply for participation, as we begin a structured search for promising technologies with commercial applications on a global scale." Trice added.

The program opened to all Indian researchers, inventors, entrepreneurs and companies with early-stage technologies that possess promising commercial potential.

V.K. Topa, advisor to the Secretary General of FICCI speaking on the occasion said, "FICCI is making effort to bring the scientific temper back to the country. Most efforts of the R&D is restricted in the initial stage to the government laboratories. As Indian Industry is growing of age, individuals are looking at very innovative ideas."

"Our partnership with Lockheed Martin and the IC2 Institute in the program represents an excellent opportunity for innovators all across India to commercialize their technologies more quickly and expand their reach in global markets," believed Topa.

"The India Innovation Growth Program aligns well with IC2's mission of promoting wealth creation and economic growth through entrepreneurship and the commercialization of technology," Said Sid Burback, Director of Commercialization Programs at the University of Texas at Austin IC2 institute.

The program is open to technologies from a wide range of fields including Aeronautics, agriculture, biotech, Chemistry, Communications, Computing, Defense, IT Marine, Manufacturing, Nanotech, Petrochemical, Semiconductors, Transportation, Materials and Medical/Life Sciences.