In­dia In­no­va­tion Growth Pro­gramme win­ners for 2014

FICCI Business Digest - - Front Page -

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.

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