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DST - Lockheed Martin India Innovation Growth Programme has 30 winners

New Delhi, Thu, 02 May 2013 ANI

New Delhi, May 2 (ANI): The DST-Lockheed Martin India Innovation Growth Programme concluded another successful year by announcing 30 winners for the year 2013.

The programme received almost 1000 applications from sectors as diverse as clean energy, agriculture, healthcare, pharmaceuticals, automobiles, robotics, and others. Fifty technologies were down-selected in the initial phase.

These innovators were given week-long advanced training in principles of product commercialization, readiness for market, business models, IP rights, competitive positioning, and mechanisms for revenue by experienced faculty members from the Stanford Graduate School of Business. Stanford Graduate Business School joined the DST-Lockheed Martin IIGP as a new partner in 2013.

Underlining the programme commitment to enhance the growth and development of India's entrepreneurial economy, The DST-Lockheed Martin India Innovation Growth Programme organized pan-India roadshows conducted in 20 cities including Ahmedabad, Hyderabad, Goa, Mumbai, Pune, Nagpur, Chennai, Bangalore, Delhi, Vadodara, Kolkata, Bhubaneswar, Jaipur, Cochin, Guwahati, Ludhiana, Ranchi, Patna, and Indore with an aim to scout the best innovations from the country.

The India Innovation Growth Programme was launched in March 2007 by Lockheed Martin, FICCI, and the University of Texas, IC2 Institute. It was joined by the Department of Science and Technology, Government of India and the Indo-US S and 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.

Addressing the audience, Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, Govt of India said, "We need constructive tension. Large companies ought to be challenged by those who bring in new technology. However, that diffusion of new technology innovation will depend on the private sector".

Dr T Ramasami, Secretary, Department of Science and Technology, Govt of India while congratulating the winners of the India Innovation Growth Programme, stressed the need to bridge the gap between innovation and market and teaching the innovators commercialization strategies so that they become self reliant in promoting their innovations to the global markets. He praised the role of the IIGP in contributing towards this cause.

H.K. Mittal, Secretary- Technology Development Board and Advisor and Head- National Science and Technology Entrepreneurship Development Board said, "India Innovation Growth Programme is now maturing into a unique programme and platform for successful commercialization of innovations and technologies. The quality of innovations coming into the programme has improved considerably over the years".

Dr. Ray O Johnson, Senior Vice President and Chief Technology Officer, Lockheed Martin Corporation, while addressing the audience stated, "Lockheed Martin is proud to be a sponsor of this exciting program now in its seventh year." Johnson went on to say, "The DST-Lockheed Martin India Innovation Growth Programme recognizes the creative spirit of Indian inventors and trains them in business innovation, which leads to the commercialization of products and services that help solve global problems and create jobs and wealth." (ANI)

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