Underlining the programme commitment to enhance the growth and development of India's entrepreneurial economy, The DST-Lockheed Martin India Innovation Growth Programme organized interactive meetings between winning technology innovators and potential investors during the Technology Expo held in the city. Successful case studies from the programme were also presented. Winners from the programme show-cased their technologies and innovations as part of the Technology Expo.
The India Innovation Growth Programme was launched in March 2007 by Lockheed Martin, FICCI and the IC2 Institute. The programme was joined by the Department of Science and Technology, Government of India and the Indo-US 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 Commercialization 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.
About 50 commercialization deals were also signed at the event. Around 50 innovators are being provided Business Development Support under this programme. Earlier in the year, the programme which focuses on taking technologies from Mind To Market, recognized innovators for applying technology to benefit humanity and spark global change. The winning technologies under the programme signing the commercialization deals had technologies that dealt with a wide spectrum including health, energy and environmental initiatives, as well as telecom, communications and security applications.
These included, Diabetes Complication Diagnosis and Guidance, which constitutes a computer based algorithm providing detailed diabetes management guidance documents; Coconut Leaf Recycling under which dense plant waste is recycled into fertilizer; Portable Unmanned Ground Vehicle, a robotic, remotely operated vehicle (ROV), designed for use in the Indian Armed Forces, and para-military services.
A report compiled by Datamonitor examines the key trends of DST-Lockheed Martin India Innovation Growth Programme (IIGP), detailing the End-User sectoral classification of total selected technologies from 2007-2011. It also provides a regional break-up of the selected technologies with the highest number (40%) coming from South India. Per the end-user industrial classification for the period 2007-2011 the maximum number of technologies (18%) is from Pharmaceuticals and Healthcare, followed closely by Technology & Services (17%). Energy & Utilities and Environmental and waste Management Services are next with 12% and 8% respectively.
Speaking on the occasion, Dr. John D. Evans, Vice President of Technology and Innovation, Lockheed Martin Corporation, stated, This year, Lockheed Martin is celebrating its centennial anniversary. We know from this 100 year legacy that good ideas can come from anywhere. Through the program, we can support the innovators in India that are working to address significant challenges, ranging from renewable energy sources to advances in healthcare to cyber security.
Addressing the audience, H.K. Mittal, Secretary- Technology Development Board and Advisor & Head- National Science and Technology Entrepreneurship Development Board stated The India Innovation Growth Programme strives to create an innovation ecosystem in India by way of creating higher linkages between the government, industry and the academia. Our prime aim through this initiative is to provide handholding services to the Indian innovators in taking their ideas to the global marketplace.
The program creates an ecosystem for facilitating the birth of new ideas, nurturing them and converting these ideas into high value products and services. We are committed to expand the outreach of the programme to engage more innovators even in smaller cities and ensure that many more innovations are commercially successful.
Welcoming the guests, Ms. Sangita Reddy, Chairperson, FICCI Andhra Pradesh State Council & Executive Director -Apollo Hospitals Group, said The program has created a global platform for Indian innovators to facilitate strategic connections ranging from industry partnerships to getting associated with angel investors, venture capitalists and government funding organizations. We have so far supported 220 innovators over the past six years and have helped them successfully graduate to the markets. The programme has strongly worked towards fuelling innovation and accelerating entrepreneurship spirit in India.
Speaking at the Expo, Ms. Valerie Hase, Program Manager, IC2 Institute at the University of Texas at Austin stated The University of Texas at Austin IC Institute is so pleased with the progress that has been made during the first months of the Program. We have engaged innovators with terrific technologies. The Program continues to deliver strong results as it has over the past five years.
Sharing his vision, R. Varadarajan, Controller, Indo-US Science and Technology Forum, stated, Indo-US Science and Technology Forum (IUSSTF), a bi-national organization established by the Indian and the US Governments is proud to be a partner in the DST-Lockheed Martin India Innovation Growth Program which aims to synergize the world of Science and the business by assisting the Indian innovators in accelerating their technologies into the global markets.
This program is a role model for supporting Public-Private partnerships in the Innovation ecosystem. Further to give more impetus to such Innovation and Entrepreneurship programs, US and the Indian governments have recently established a US-India Science and Technology Endowment Fund for promotion of joint activities that would lead to Innovation and Entrepreneurship through application of Science and Technology for public good of the society.
India Infoline News Service / 14:51, Aug 19, 2014
Q1 revenues declined 0.9% qoq vs our estimate for a 1.8% qoq on the back of weakness in global operations whose revenues declined 14.9% qoq and 5.1% yoy.