DST-Lockheed Martin India releases ‘Impact Analysis Report’

DST-Lockheed Martin -indianbureaucracy
DST-Lockheed Martin -indianbureaucracy

The second “Impact Analysis Report” for the DST-Lockheed Martin India Innovation Growth Programme (IIGP) was released at the Bengaluru Technology Expo. The report, prepared by Ernst & Young, highlighted how ideas and innovation play an important role in the development of modern economies.

According to the report, enhancing innovation-driven entrepreneurship is integral to achieving increased productivity levels and is imperative for achieving and sustaining the overall competitiveness of an economy. The programme contributes to the Prime Minister’s vision of ‘Start-up India, Stand-up India’ by providing a platform to innovators and entrepreneurs.

Over the last nine years, the programme has helped hundreds of Indian innovators to take their innovations to global markets. The maximum number of technologies selected in the programme were from the pharmaceutical and healthcare sector (20%), followed by Information and Communications Technology (ICT) (12%) and Energy & Utilities (9%). Over the same period, out of every 10 innovators selected, one has been a woman innovator. South India accounts for the maximum number of innovations (47%) in the total number of selected innovations over the years 2007 to 2015. To gauge the impact of the programme, the growth in the number of employees over the past threeyears was analyzed. The survey shows an increase of523 percent in the number of manpower employed from 2013 to 2015.

The IIGP has provided a platform for nurturing innovation in the country, as seen in the rapid rise of applications—receiving a total number of 6,124 since its inception. The IIGP focuses on a “Mind to Market” strategy by offering extensive training modules that are suitably structured to help participants gauge and streamline their existing capabilities, as well as formulate and implement appropriate business strategies. With its emphasis on capacity building and technology commercialization, IIGPhas helped several participants in their quest to find suitable business partners in India as well as internationally. This has resulted in 414 business engagement agreements being signed between innovators and industry partners/investors. The total revenue generated by the participating companies under the programme is US$ 860 million.

Since the inception of IIGP, there are several innovators who are not only able to commercialize their technology but have also generated exports. In the period between 2013 to 2015, the total export turnover of the innovators was INR 181 crore (approx.US$30million). More than 20 winners of the India Innovation Growth Programme showcased their technologies at the Bangalore Technology Expo. These included technologies from Bangalore like Agnisumukh, a startup entity which has pioneered energy efficient, clean and green devices for industrial kitchens that produce flameless, smokeless and noiseless radiant heat just like charcoal by using LPG as a fuel source. It saves more than 30 percent LPG and 50 percent water and detergent. In addition, other technologies included companion diagnostics for diabetes, an in vitro diagnostic (IVD) kit developed on the principle of antigen and antibody interaction to monitor the presence or absence of antibodies against insulin and insulin analogues, as well as a solar powered crop harvester; genetic diagnostics and personalized medicine for maximum healthcare; and Dance Aid for Deaf. The India Innovation Growth Programme, launched in March 2007, was started with the objective of enhancing the growth and development of India’s entrepreneurial economy. The aim of this programme is to accelerate innovative new 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. Lockheed Martin has announced its support for the programme through 2013.

Be the first to comment

Leave a Reply

Your email address will not be published.