National Research Development Corporation, an Enterprise of Department of Scientific & Industrial Research, Ministry of Science & Technology, Govt. of India, New Delhi (NRDC) & Indian Institute of Technology, Hyderabad has entered into Memorandum of Agreement (MOA) for marketing the inventions/innovations, patents, formulations, know-how/processes developed by these institutes and also collection of Premia and Royalties arising from these activities.
Dr. H. Purushotham, Chairman & Managing Director, on behalf of National Research Development Corporation (NRDC) and Prof. U. B. Desai, Director, Indian Institute of Technology, Hyderabad has signed the MOA. Senior officials from both the organizations were also present.
NRDC has been serving the nation for more than six decades in development, promotion and commercialisation of technologies emanating from R&D organization, PSUs and academia. It has so far licensed technologies to more than 5000 entrepreneurs/ companies in the country in almost all sectors of industry and provided technical and financial assistance for filing about 1800 patents in India and abroad. NRDC connecting the technologies to start-ups.
IIT-Hyderabad and ‘NRDC’ recognise the respective strengths of the two organisations and accordingly agree to cooperate in the development of technologies and their successful transfer to industry for commercial exploitation and socio economic benefits.