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i2india Ventures, FITT Sign Commercial Agreement
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This engagement is expected to enhance the atmosphere for innovation at IIT-Delhi and also create opportunities to grow the technology eco-system.
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Tuesday, April 21, 2009:
i2india Ventures and FITT, the industrial interface of the Indian Institute of Technology Delhi, have signed a commercial agreement that is expected to result in the practical utilisation of innovations generated by IIT-Delhi faculty, students, and staff. This engagement is expected to enhance the atmosphere for innovation at IIT-D and also create opportunities to grow the technology eco-system.
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Anil Wali, managing director, FITT - Indian Institute of Technology, Delhi, said, "FITT, IIT Delhi is engaged with i2india, an IP commercialisation and investment company, associated with Imperial Innovations, UK. FITT is a pioneering industry-academia interface organisation in the country, addressing various facets of technology transfer. With the support of top class faculty scientists and students, we foster early stage technology ventures."
"This agreement demonstrates how i2india's unique business model can help bridge the academia-industry gap that currently exists in the Indian market. Technology and product innovation will be the key to India's next cycle of growth. Our country has a lot of scope to improve in the area of product development, but suffer through our inability to commercialise these inventions. While we can learn a lot from Western models, we will have to evolve our own processes here. i2india intends to play a pioneering role in growing this market in India. Our partnership will help professors and students enhance the creation and use of innovations coming out of premier institutes such as IIT Delhi," said Deepam, chief executive officer, i2india Ventures.
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