Fostering innovation and entrepreneurship

A second version of a foster innovation and entrepreneurship was launched in New Delhi on 10 March, following on to the one supported by #Lockheed Martin Corporation.

The #India Innovation Growth Programme 2.0 (IIGP 2.0) was launched by the #Department of Science and Technology launched the India Innovation to strengthening its commitment to foster innovation and entrepreneurship.

Lockheed Martin has supported close to 500 innovators, start-ups, creating an economic value of approximately US$900 million. It has been administered by the #Indo-US Science and Technology Forum and implemented by the #Federation of Indian Chambers of Commerce and Industry (FICCI).

Through a wide outreach campaign undertaken by FICCI over the last 10 years, spreading over 100 cities across India, the Programme has received and evaluated over 7,000 ideas so far.

In addition to building entrepreneurs, more than 50 incubation managers from India have been trained in the US on global best practices on incubation and commercialization and this has been possible.

Under the IIGP 2.0, #Tata Trusts have come on board to support and scale social innovations.

IIGP 2.0, will have two separate challenges viz. University Challenge and the Open Innovation Challeng to support innovations across industrial and social sectors.

The program provides funding, capacity building, mentoring, incubation and business development support to the innovators, helping them scale their ventures to the next level.

Speaking on the IIGP 2.0 launch, FICCI President #Pankaj Patel said “With over 500 innovations supported, the exemplary work undertaken is noteworthy.

“Inclusion of new partners is a welcome addition as the programme grows from strength to strength.

“We remain committed to building on the tremendous success of the last decade in fostering and accelerating Indian technological innovations into the global marketplace,” he said.

Elaborated Dr. Didar Singh, Secretary General, FICCI, pointed out that the India Innovation Growth Programme has grown to be one of India’s foremost technology acceleration platforms over the last 10 years.

FICCI strives to provide an entire ecosystem to the startups through diversified programs such as the IIGP, XLr8AP, Google digital unlocked certification program to meet the varied needs of startups in India.

“We work closely with innovators through various phases, from ideation to commercialization. Moving into the next decade, we remain confident of the continued growth & success of the IIGP in its’ new avatar,” he said.

Several of the IIGP innovators have been further scaled through the #XLr8AP Program of Government of Andhra Pradesh, FICCI and #University of Texas.

An IIGP awardee, Sameer Panda has invented a tyre with burst-preventive puncture-curative technology.

The Xlr8 program with his commercialization strategy is planning to set up a manufacturing unit soon. fii-news.com