Speaking at a panel discussion at the third edition of IP Fest, organised by the FICCI and IPPO in Ahmedabad on Friday, K Padmavati M, dean of Rajiv Gandhi School of IP Law said that it is necessary to link innovation with outcome.
Ideas that have the potential to create intellectual property (IP) should be rapidly incubated into businesses as a delay here makes the innovation irrelevant, said experts at an event in Ahmedabad. They lamented the lack of awareness on the same among the faculty and students in the universities and colleges across the city.
Speaking at a panel discussion at the third edition of IP Fest, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and IP Promotion Outreach Foundation (IPPO) in Ahmedabad on Friday, K Padmavati M, dean of Rajiv Gandhi School of IP Law said that it is necessary to link innovation with outcome.
However, there is a lot of delay in this conversion. "If the innovative idea does not get converted into proof of concept, it loses its value. We need to expedite this process by roping in start-up incubators," said Padmavati. B K Sahu, regional manager of National Resource Development Centre (NRDC) – Intellectual Property Facilitation Centre (IPFC) of Government of India lamented that there is not enough awareness about IP and how to leverage it among universities and many government-owned companies.
"I visited so many universities and colleges, but the awareness about IP needs to be enhanced. Even a professor in Jawaharlal Nehru University was not aware of the procedure for filing of IP rights. Close to 40,000 patent applications were filed in 2018 across the country, but sadly only about 20% are from locals, while the rest are from foreigners or multinational companies," he said.
A K Garg, director of the Ministry of Electronics and Information Technology (MeitY) expressed the need to create a roadmap regarding what needs to be done in next five years for promotion of IP in different sectors, especially with regard to the impact on industries and society. Even as India is a leader in the software services sector, he expressed the necessity to encourage more software products from India. "Globally, the size of the Information Technology (IT) market is about $1.4 trillion, but India has only a 10% share. While most of the work is being done in India, close to 70% value has been gained by foreigners. In fact, India is not present in about 78% of the IT business," he said.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Jatin Trivedi, Bhupendrasinh Chudasma, Sunil Parikh")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}