India Innovation Growth Programme winners for 2014
TIndia he DST-Lockheed Martin
Innovation Growth Programme (IIGP) entered its eighth year on a new high with a record 1300 applications being received from sectors as diverse as healthcare, textiles, agriculture, defense and food processing.
Underlining the programme's commitment to enhance the growth and development of India's entrepreneurial economy, the DSTLockheed Martin India Innovation Growth Programme organised panIndia road shows in 20 cities including Jaipur, Goa, Ahmedabad, Guwahati, Indore, Patna, Ranchi, Chennai, Bangalore, Chandigarh, Mumbai, Pune, Vadodara, Delhi, Kolkata, Bhubaneshwar, Hyderabad, Nagpur, Srinagar and Cochin with an aim to scout the best innovations from the country.
IIGP focuses on 'Mind to Market' strategy by providing extensive training modules, which are suitably structured to help participants gauge and streamline their existing capabilities, and formulate and implement appropriate business strategies. TiE Silicon Valley has also come on board as a programme partner to provide entrepreneurial mentorship/network to innovators.
IIGP has helped several participants in their quest to find suitable business partners in India. This resulted in more than 300 agreements being signed between 2007 and 2013.
The DST-Lockheed Martin India Innovation Growth Programme has resulted in positive economic impact. The programme has helped participants and their companies generate revenues exceeding Rs. 1500 crore (US$ 275 million) during 2010-2012, thereby contributing significantly to the country's economic growth.
Of all the entries, 45 innovators were down-selected and were given week-long advanced training in basic principles of product commercialisation, readiness for market, business models, IP rights, competitive positioning, and mechanisms for revenue by experienced faculty members from the Stanford Graduate School of Business. Of this 30 final winners were announced after a prestigious jury panel reviewed the applications in New Delhi on May 23, 2014. Twenty of the top 30 innovators received a cash award of Rs. 1 lakh each and 10 will be taken on all expenses paid trip to the Silicon Valley.
A number of innovators also displayed their outstanding innovations at the awards ceremony.
Lockheed Martin, FICCI, and the University of Texas, IC2 Institute launched the India Innovation Growth Programme in March 2007. It was joined by the Department of Science and Technology, Government of India and the IndoUS S&T Forum November 2008 onwards. The aim of this programme is to accelerate innovative 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 India.