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Do you have an idea or invention? IIT Roorkee can fund you to commercialize

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Do you have an idea or invention? IIT Roorkee can fund you to commercialize

IIT Roorkee will welcome innovations driven by IoT, robots, drones, AI, and machine learning for incubation and commercialization. While the government would contribute seed money, the product will be released commercially with the help of corporate finance. The mission of DIH is to provide complete assistance to inventors in order to commercialize their innovations. As a result, DIH would retain patent rights and pay out 80 percent of the patent’s revenue to the inventor if it offered financial and legal assistance to the inventor.

Key Highlight:

  • IIT Roorkee will welcome innovations driven by IoT, robots, drones, AI, and machine learning for incubation and commercialization.
  • While the government would contribute seed money, the product will be released commercially with the help of corporate finance.
  • A patent owned by DIH would offer the inventor an 80 percent cut of any revenue generated by his or her invention if DIH provided legal and financial support.
  • IITs have thousands of patents, but no one buys them since just a good product is not enough, says Manish Anand, CEO of DIH.

The Indian Institute of Technology (IIT) Roorkee is open to all innovators, regardless of their academic qualifications or age, and will help you commercialize your invention.

IIT Roorkee’s Divyasampark I-Hub (DIH), in conjunction with the Department of Science and Technology (DST), the Government of India, will soon establish a Grassroot Innovation Support Program.

Any Cyber-Physical Systems (CPS) technology innovation could be selected, nurtured, and commercially launched under this effort. Technology developed for device-to-device communication in cyberspace is under the purview of CPS.

AI and machine learning-powered devices developed by anyone in India would be allowed for incubation and commercialization regardless of age or academic level. IIT academics aren’t the only ones who can come up with great ideas. As a result, anyone can take advantage of this opportunity. It’s essential to keep the innovation in CPS technology, says Manish Anand, CEO of DIH at the Indian Institute of Technology Roorkee.

Would you please send any information on your idea to ceo.tih@iitr.ac.in? Technical due diligence and application review will be performed. After a panel of technical specialists verifies the innovator’s claims, the project will be mentored and upgraded. While the government would contribute seed money, the product will be released commercially with the help of corporate finance.

According to Anand, he has written to the chief minister of Uttarakhand and the Bihar DST office, requesting assistance in spreading the word about this program in all of the state’s schools, colleges, and universities.

It doesn’t matter whether you are a student, a former student, or an adult with a college degree; CPS innovation can be done by anybody passionate about it. He continued, “And we would like to run through all those concepts to help India uncover its innovators and assist the country in moving forward to industry 4.0 and society 5.0.”

It will also be possible to get assistance for inventors who require assistance in filing patents. A patent owned by DIH would offer the inventor an 80 percent cut of any revenue generated by his or her invention if DIH provided legal and financial support.

“Our goal is to provide comprehensive assistance to the inventor in order to bring his or her invention to market.” We’re putting together a business network and reaching out to potential investors. Because we are a government organization with no business motivation, we need to keep 20% of the profits earned by the patent as our running costs. We wish to hold the patent. In addition, Anand argues that an individual innovator lacks the company’s marketing reach.

Faculty personnel with patents from the Institute of Technology (IIT) can benefit from the program. According to Anand, “excellent marketing and networking channels are equally required, and we will give them,” IITs have thousands of patents, but no one buys them since just a good product is not enough.

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