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Indian govt. doles out 
55 Crore for researchers
Monday, 08 February 2010, 18:31 Hrs
New Delhi: Young researchers struggling to muster funds to establish their startups have reason to smile - the government Monday set up a corpus of 
55 crore to help scientists convert their prototypes to tangible commercial products.
"This (venture capital) fund will now help researchers become entrepreneurs," Science Minister Prithviraj Chavan said Monday.
The55 crore fund will be provided to startups registered with nearly 40 science and business 'incubators', which help researchers set up new companies, in the country during the 2010-11 financial year. These incubators help to take the laboratory prototypes to the masses as tangible products.
The fund will be managed by the Science and Technology Park in Pune, where the Indian Steps and Business Incubator Association (ISBA) secretariat is located.
Rajendra Jagdale, secretary general of ISBA, said the fund will help many new enterprises to come up as it would help researchers shift their innovation from the science lab to the market. This is the first ever venture capital fund for business incubation.
"There is no point producing a prototype or publishing a thesis hoping that someone will pick it up. Here ISBA and the fund will come to their help. ISBA is just five years old but they are doing a great job in networking for resources," Chavan said.
"The whole intention is to convert knowledge to enterprises," the minister said at the 4th ISBA conference here.
He said the Indian government has been at the forefront to help set up startup companies to generate employment among science and technology graduates.
"Innovation through incubation is the way forward for sustainable inclusive growth. This initiative will go a long way in achieving sustainable growth through science and technology tools," said R.M.P. Jawahar, president of ISBA.
India is currently spending around one percent of the GDP on research development, as compared to over four percent being spent by countries like Israel and Finland.
Source: IANS
55 crore to help scientists convert their prototypes to tangible commercial products."This (venture capital) fund will now help researchers become entrepreneurs," Science Minister Prithviraj Chavan said Monday.
The
55 crore fund will be provided to startups registered with nearly 40 science and business 'incubators', which help researchers set up new companies, in the country during the 2010-11 financial year. These incubators help to take the laboratory prototypes to the masses as tangible products. The fund will be managed by the Science and Technology Park in Pune, where the Indian Steps and Business Incubator Association (ISBA) secretariat is located.
Rajendra Jagdale, secretary general of ISBA, said the fund will help many new enterprises to come up as it would help researchers shift their innovation from the science lab to the market. This is the first ever venture capital fund for business incubation.
"There is no point producing a prototype or publishing a thesis hoping that someone will pick it up. Here ISBA and the fund will come to their help. ISBA is just five years old but they are doing a great job in networking for resources," Chavan said.
"The whole intention is to convert knowledge to enterprises," the minister said at the 4th ISBA conference here.
He said the Indian government has been at the forefront to help set up startup companies to generate employment among science and technology graduates.
"Innovation through incubation is the way forward for sustainable inclusive growth. This initiative will go a long way in achieving sustainable growth through science and technology tools," said R.M.P. Jawahar, president of ISBA.
India is currently spending around one percent of the GDP on research development, as compared to over four percent being spent by countries like Israel and Finland.
Source: IANS
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Reader's comments (24)
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Posted by: pregnancy-symptoms - 19 Aug, 2011
3: yes this is right step towards developing
nation to a new tech. era this should be
increase in coming future to cultivate better
crop from our fertile brains .......
Posted by: YOGESH KUMAR - 22 Feb, 2010
4: INDIA is blessed with rich brains. But the
unfortunate thing is no money to appraise the
projects they come with. what govt. gave is
only a mere contribution. it should promote
more private encouragement too.
Posted by: mohan - 14 Feb, 2010
5: i am a Professor, a Doctor and a Consultant
in Pathology and have started a pvt
enterprise called Raj Diagnostics and am keen
to enlarge my Diagnostic capabilities and
employ professionals.I need funds.Can this
help me
Posted by: Rakesh - 10 Feb, 2010
6: Hello,
This will alive the dead money in Indian BFSI Sector.
Experience can't be described but we call it as -
'Flame of Integration of Knowledge'
:Design Consultants, India, WINDOWS EMBEDDED PARTNER.
This will alive the dead money in Indian BFSI Sector.
Experience can't be described but we call it as -
'Flame of Integration of Knowledge'
:Design Consultants, India, WINDOWS EMBEDDED PARTNER.
Posted by: Abhijeet - 10 Feb, 2010
7: that is bogus ...you have to lick the
politicains....let politcains screw
themselves...who want that dirty people in
the syurroundings
Posted by: VirtualAhuman - 10 Feb, 2010
8: The start up scientist has a reason to smile
provided it bypasses bank and the money is
directly provided by the Government.If it is
through Banks the researcher will have to
spend more time than time he took for
invention, to get the money
Posted by: kamalkumar - 10 Feb, 2010
9: Q. Who is the GM of Hewlett Packard (hp) ?
A. Rajiv Gupta
Q. Who is the creator of Pentium chip (needs no introduction as 90% of the today's computers run on it)?
A. Vinod Dahm
Q. Who is the third richest man on the world?
A. According to the latest report on Fortune Magazine, it is Azim Premji, who is the CEO of Wipro Industries. The Sultan of Brunei is at 6 th position now.
Q. Who is the founder and creator of Hotmail (Hotmail is world's No.1 web based email program)
A. Sabeer Bhatia
Q. Who is the president of AT & T-Bell Labs (AT & T-Bell Labs is the creator of program languages such as C, Unix to name a few)
A. Arun Netravalli
Q. Who is the new MTD (Microsoft Testing Director) of Windows 2000, responsible to iron out all initial problems?
A. Sanjay Tejwrika
Q. Who are the Chief Executives of Citi group , Mckinsey & Stanchart?
A. Vikram Pandit , Rajat Gupta, and Rana Talwar.
We Indians are the wealthiest among all ethnic groups in America ,
even faring better than the whites and the natives.
There are 3.22 millions of Indians in USA (1.5% of population). YET,
38% of doctors in USA are Indians.
12% scientists in USA are Indians.
36% of NASA scientists are Indians.
34% of Microsoft employees are Indians.
28% of IBM employees are Indians.
17% of INTEL scientists are Indians.
13% of XEROX employees are! Indians.
A. Rajiv Gupta
Q. Who is the creator of Pentium chip (needs no introduction as 90% of the today's computers run on it)?
A. Vinod Dahm
Q. Who is the third richest man on the world?
A. According to the latest report on Fortune Magazine, it is Azim Premji, who is the CEO of Wipro Industries. The Sultan of Brunei is at 6 th position now.
Q. Who is the founder and creator of Hotmail (Hotmail is world's No.1 web based email program)
A. Sabeer Bhatia
Q. Who is the president of AT & T-Bell Labs (AT & T-Bell Labs is the creator of program languages such as C, Unix to name a few)
A. Arun Netravalli
Q. Who is the new MTD (Microsoft Testing Director) of Windows 2000, responsible to iron out all initial problems?
A. Sanjay Tejwrika
Q. Who are the Chief Executives of Citi group , Mckinsey & Stanchart?
A. Vikram Pandit , Rajat Gupta, and Rana Talwar.
We Indians are the wealthiest among all ethnic groups in America ,
even faring better than the whites and the natives.
There are 3.22 millions of Indians in USA (1.5% of population). YET,
38% of doctors in USA are Indians.
12% scientists in USA are Indians.
36% of NASA scientists are Indians.
34% of Microsoft employees are Indians.
28% of IBM employees are Indians.
17% of INTEL scientists are Indians.
13% of XEROX employees are! Indians.
Posted by: Vikalp - 10 Feb, 2010
10:I am proud to be an India, and I appreciate
that you too is proud to feel this yet I
would like to ask only one question, were
they or would have been able to achieve all
this in India?
You can see the real picture with your open eye. Noble winner Hargovind Khurana's job application was rejected by the Punjab University. We should be proud to see that but feel ashamed to see about talents in India. If somebody becomes Daud Ibrahim, his picture will be on front page and if he is a talentd for positive doings then he has to beg media to publish a thumb nail!
So dear friend do not live in dreams see on ground, the India!
Who is responsible, we all Indians!
Best regards,
Arun
You can see the real picture with your open eye. Noble winner Hargovind Khurana's job application was rejected by the Punjab University. We should be proud to see that but feel ashamed to see about talents in India. If somebody becomes Daud Ibrahim, his picture will be on front page and if he is a talentd for positive doings then he has to beg media to publish a thumb nail!
So dear friend do not live in dreams see on ground, the India!
Who is responsible, we all Indians!
Best regards,
Arun
Arun Pratap Singh replied to: Vikalp
post - 12 Feb, 2010
post - 12 Feb, 2010
11: india is poor country.we should say thanks
for our leader in position at
least granting some money to this poor scientists.At least they will have
something to build their dream.I feel shame when i see india and
their hungry people.There are beggers all around.
least granting some money to this poor scientists.At least they will have
something to build their dream.I feel shame when i see india and
their hungry people.There are beggers all around.
Posted by: mahatama - 10 Feb, 2010
12:Ohh, you have seen only one side of a coin
and forget the other side. How many beggars
you have seen in India -- 0.1% or 100%. It is
like you people who have really present a
shameful picture of India. Shame on the
thinking of such people. Just see that we are
now rising despite so many hurdles created by
others, you know better these outside hurdle
producers. Just wait for few more years
--possible 5 yrs and then you would raise
your head and say I AM INDIAN. But donot
forget to write me then.
Ajai K Srivastav replied to: mahatama
post - 10 Feb, 2010
post - 10 Feb, 2010
13:there is no need to feel shame about
India...see the positive side on the
development after just 63 years of
Independence we are really in a good stage.
Not able to understand why seeing only
beggers and not the big infrastructure
projects and froeign investments
Anupama replied to: mahatama
post - 10 Feb, 2010
post - 10 Feb, 2010
14:pleas shut up
who told india s poor
its rich in its resourses
first be proud dont feel shame
who told india s poor
its rich in its resourses
first be proud dont feel shame
mukilan replied to: mahatama
post - 10 Feb, 2010
post - 10 Feb, 2010
15: Just another way to pocket taxpayers'
money... I wonder what (tiny) fraction of
this grant would really reach the deserving..
I think we all know the system, but we'll
never get to know the truths hidden its
backpocket.
Posted by: belzianboy - 10 Feb, 2010
16: Chance should be given to fresher of colleges
,so new innovating ideas will emerge and more
new IT companies with different thinking and
creative products will emerge.I hope someone
will take initiative to it.
Posted by: saurabh patil - 09 Feb, 2010
17:The United Nations Industrial Development
Organization (UNIDO) and the technology
company HP announced the opening of 20
additional training centres in Africa and the
Middle East to expand HP’s youth
entrepreneurship and IT education programme(
Source: BI-ME , Author: BI-ME staff
Mon June 29, 2009 ).
The new centres, part of the HP Graduate Entrepreneurship Training through IT programme (GET-IT), will operate in Egypt, United Arab Emirates, Saudi Arabia, Algeria, Morocco, Kenya, Nigeria and South Africa.
The total number of GET-IT centres will now reach 33 in ten countries in Africa and the Middle East.
The GET-IT programme provides training to unemployed youth and graduates between the ages of 16 and 25, and helps potential entrepreneurs acquire IT skills with the aim of becoming better placed to create and run their own businesses. GET-IT courses teach practical IT solutions for daily business challenges in areas such as finance, management, marketing and technology management.
“The UNIDO-HP partnership aims at addressing the high level of unemployment among young people in developing countries by integrating them into the labour market through successful entrepreneurship”, said Kandeh K. Yumkella, UNIDO Director-General.
“HP and UNIDO have been working together to provide IT technology and training to promote innovative uses of information and communication technologies to support entrepreneurship, help encourage economic development and create new business opportunities. It is essential to keep expanding this initiative to reach as many communities as possible and to continue assisting countries in Africa and the Middle East in educating their young generation in IT.”
John Hoonhout, Managing Director for HP Middle East, added: “HP believes that entrepreneurship is vital for the economy and that young people can play a major role in creating their own businesses and their own jobs.
The GET-IT training courses combine entrepreneurship education with practical hands-on experience in using IT to enhance young people’s professional skills.”
Through its extensive field office network in Africa and the Middle East, UNIDO identifies non-profit organizations who are eligible to become GET-IT partners and monitors the activities of these partners to ensure the sustainability of the GET-IT programme.
GET-IT is part of HP’s social investment strategy aimed at innovating teaching and learning to help young entrepreneurs in achieving success in their future careers. The programme provides IT equipment, a cash donation, training as well as training of trainers for the respective local partner organizations.
HP and its partners have now rolled out the GET-IT programme in nearly 100 centres in 30 countries in Europe, the Middle East and Africa, reaching out to more than 43,000 people through online and offline training courses.
HP and its partners plan to grow GET-IT even further to reach over 500,000 young people by 2010.Those who do not live close to a GET-IT training centre will be able to access some of the courses online. HP and its partner MEA-I have created a web portal – www.get-it-city.net – where any young entrepreneur in EMEA can log on for training and advice.
To maximize the impact of their youth entrepreneurship programmes, UNIDO and HP will establish linkages between GET-IT and UNIDO’s Entrepreneurship Curriculum Programme and the Enterprise Development and Investment Promotion Programme. These new linkages will help to increase the scope of the GET-IT programme.
WILL INDIA EMULATE TO HAVE SUCH PROGRAMME?
Dr.A.Jagadeesh Nellore(AP)
Mon June 29, 2009 ).
The new centres, part of the HP Graduate Entrepreneurship Training through IT programme (GET-IT), will operate in Egypt, United Arab Emirates, Saudi Arabia, Algeria, Morocco, Kenya, Nigeria and South Africa.
The total number of GET-IT centres will now reach 33 in ten countries in Africa and the Middle East.
The GET-IT programme provides training to unemployed youth and graduates between the ages of 16 and 25, and helps potential entrepreneurs acquire IT skills with the aim of becoming better placed to create and run their own businesses. GET-IT courses teach practical IT solutions for daily business challenges in areas such as finance, management, marketing and technology management.
“The UNIDO-HP partnership aims at addressing the high level of unemployment among young people in developing countries by integrating them into the labour market through successful entrepreneurship”, said Kandeh K. Yumkella, UNIDO Director-General.
“HP and UNIDO have been working together to provide IT technology and training to promote innovative uses of information and communication technologies to support entrepreneurship, help encourage economic development and create new business opportunities. It is essential to keep expanding this initiative to reach as many communities as possible and to continue assisting countries in Africa and the Middle East in educating their young generation in IT.”
John Hoonhout, Managing Director for HP Middle East, added: “HP believes that entrepreneurship is vital for the economy and that young people can play a major role in creating their own businesses and their own jobs.
The GET-IT training courses combine entrepreneurship education with practical hands-on experience in using IT to enhance young people’s professional skills.”
Through its extensive field office network in Africa and the Middle East, UNIDO identifies non-profit organizations who are eligible to become GET-IT partners and monitors the activities of these partners to ensure the sustainability of the GET-IT programme.
GET-IT is part of HP’s social investment strategy aimed at innovating teaching and learning to help young entrepreneurs in achieving success in their future careers. The programme provides IT equipment, a cash donation, training as well as training of trainers for the respective local partner organizations.
HP and its partners have now rolled out the GET-IT programme in nearly 100 centres in 30 countries in Europe, the Middle East and Africa, reaching out to more than 43,000 people through online and offline training courses.
HP and its partners plan to grow GET-IT even further to reach over 500,000 young people by 2010.Those who do not live close to a GET-IT training centre will be able to access some of the courses online. HP and its partner MEA-I have created a web portal – www.get-it-city.net – where any young entrepreneur in EMEA can log on for training and advice.
To maximize the impact of their youth entrepreneurship programmes, UNIDO and HP will establish linkages between GET-IT and UNIDO’s Entrepreneurship Curriculum Programme and the Enterprise Development and Investment Promotion Programme. These new linkages will help to increase the scope of the GET-IT programme.
WILL INDIA EMULATE TO HAVE SUCH PROGRAMME?
Dr.A.Jagadeesh Nellore(AP)
Dr.A.Jagadeesh replied to: saurabh patil
post - 09 Feb, 2010
post - 09 Feb, 2010
18: The same News appeared a few hours back under
the heading:
$11.7 Million fund set up to help young scientists
By IANS
Tuesday,09 February 2010, 07:01 hrs
Earlier it appeared yesterday under the caption:
1: The same news appeared under different heading with out the picture as under in SiliconIndia:
Rs.55 crore fund set up to help young scientists
By IANS
Tuesday,09 February 2010, 07:01 hrs
WHAT IS THIS?
Is SiliconIndia lacking News?
Dr.A.Jagadeesh Nellore(AP)
$11.7 Million fund set up to help young scientists
By IANS
Tuesday,09 February 2010, 07:01 hrs
Earlier it appeared yesterday under the caption:
1: The same news appeared under different heading with out the picture as under in SiliconIndia:
Rs.55 crore fund set up to help young scientists
By IANS
Tuesday,09 February 2010, 07:01 hrs
WHAT IS THIS?
Is SiliconIndia lacking News?
Dr.A.Jagadeesh Nellore(AP)
Posted by: Dr.A.Jagadeesh - 09 Feb, 2010
19:Dear Sir,
I was in research since 1992 to till date. I have invented the energy saving Electronic ballast for Metal Halide, sodium Vapour lamps and Mercu vapour lamps up to 2500 lighting loads. Its application is in streetlighting, stadiums, outdoor lighting, Industries, collieries etc. It has got Patented in May 2007 although applied in Dec 2003. I want to commercialize it need capital. Can You please advise how and where to apply with guidelines. I have opened a firm too titled M/s Omtek Electronics (P) Limited. at Bhubaheswar, Orissa. my websit is www.omtekindia.tradeindia.com
Best Regards,
S.C. Rath
+91-9777100869
I was in research since 1992 to till date. I have invented the energy saving Electronic ballast for Metal Halide, sodium Vapour lamps and Mercu vapour lamps up to 2500 lighting loads. Its application is in streetlighting, stadiums, outdoor lighting, Industries, collieries etc. It has got Patented in May 2007 although applied in Dec 2003. I want to commercialize it need capital. Can You please advise how and where to apply with guidelines. I have opened a firm too titled M/s Omtek Electronics (P) Limited. at Bhubaheswar, Orissa. my websit is www.omtekindia.tradeindia.com
Best Regards,
S.C. Rath
+91-9777100869
subodha Chandra Rath replied to: Dr.A.Jagadeesh
post - 10 Feb, 2010
post - 10 Feb, 2010
20: Dear Shri subodha Chandra Rath:
Please contact TePP,DSIR,Technology Bhawan,New Mehrauli Road,NEW DELHI 110 016. They will guide you.
Contact Person: Dr.P.K.Dutta
E-mail: pkdutta@nic.in
TePP(Tecno Entrepreneur Programme).
Dr.A.Jagadeesh Nellore(AP)
Please contact TePP,DSIR,Technology Bhawan,New Mehrauli Road,NEW DELHI 110 016. They will guide you.
Contact Person: Dr.P.K.Dutta
E-mail: pkdutta@nic.in
TePP(Tecno Entrepreneur Programme).
Dr.A.Jagadeesh Nellore(AP)
Dr.A.Jagadeesh replied to: subodha Chandra Rath
post - 10 Feb, 2010
post - 10 Feb, 2010
21: The same news appeared under different
heading with out the picture as under in
SiliconIndia:
Rs.55 crore fund set up to help young scientists
By IANS
Tuesday,09 February 2010, 07:01 hrs
Why this is happening? In fact this is not the first time such a thing happened?
It lowers the credibility of SiliconIndia!
Dr.A.Jagadeesh Nellore(AP)
Rs.55 crore fund set up to help young scientists
By IANS
Tuesday,09 February 2010, 07:01 hrs
Why this is happening? In fact this is not the first time such a thing happened?
It lowers the credibility of SiliconIndia!
Dr.A.Jagadeesh Nellore(AP)
Posted by: Dr.A.Jagadeesh - 09 Feb, 2010
22: Thank goodness. At least something's been
done. But this just a bit. A lot more needs
to b done folks.
Posted by: Amrit Wafa - 09 Feb, 2010
23: I congratulate Ministry of Science and
Technology for setting up a corpus of Rs.55
crore to help scientists convert their
prototypes to tangible commercial products.
Though the amount is meagre, it is a good
beginning.
Just as Bill Gates created funds for AIDS project, corporate giants like Tatas,Birlas,Mahindra etc., and IT big companies like TCS,Infosys,Wipro etc.,will be doing service to the Nation by creating an” INNOVATION FUND" especially for rural Innovators. Innovation, Invention and Creativity are the pillars of development of any country. Though there are NRDC,TePP(DSIR),TIFAC,National Innovation Foundation which are providing funds for Innovations, their efforts are limited.
It is hoped Corporate Houses will realize and reflect their Social Responsibility which they often talk.
Dr.A.Jagadeesh Nellore (AP)
Just as Bill Gates created funds for AIDS project, corporate giants like Tatas,Birlas,Mahindra etc., and IT big companies like TCS,Infosys,Wipro etc.,will be doing service to the Nation by creating an” INNOVATION FUND" especially for rural Innovators. Innovation, Invention and Creativity are the pillars of development of any country. Though there are NRDC,TePP(DSIR),TIFAC,National Innovation Foundation which are providing funds for Innovations, their efforts are limited.
It is hoped Corporate Houses will realize and reflect their Social Responsibility which they often talk.
Dr.A.Jagadeesh Nellore (AP)
Posted by: Dr.A.Jagadeesh - 09 Feb, 2010
24:OK its nice to have atleast some thing for
our scientists who are really doing well in
every field. But how many of them would be
benefitted-- seeing the meagre amount just 55
crores, hwy why you all are so happy, this is
the amount which a top leader's visit for
about 5-6 times in the country (when you
calculate all the expenditure incurred on
their visit from official arrangement to
their departure). And what to think about
these leaders -- they can give Padamshree,
Bharat Ratna to Cine persons and not to
scientists (although once in a million).
Ajai K. Srivastav replied to: Dr.A.Jagadeesh
post - 10 Feb, 2010
post - 10 Feb, 2010
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