siliconindia | |February 201919in terms of quality that it delivers the knowledge. Student-centric focus is gradually shifting to student-friendly approaches, and innovations and best practices are adopted to add value and get more mileage in the knowledge delivery. Presently, the government has realized the need of serious research and innovation at academics for boosting the economy by creating more of novel product and entrepre-neurs. Government has made it man-datory for institutes and universities to get indulge in research and innova-tion, as this has become a compulsory part of their accreditation and ranking system. In recently released Global Innovation Index (GII) 2018, India was ranked 57th among 130 countries. It ranks nations based on 80 indica-tors, ranging from intellectual prop-erty filing rates to R&D, and many other factors. Factors which will help India improve its Global Innovation Index are: World-class Universities, Innovation Policies, Strong IP eco-system, and Steering Innovation.The value of IP in universities is often not adequately appreciated in India. IP should be a key considera-tion in day-to-day business decisions in any increasing knowledge-driven economy. However, research, inno-vation and creativity capacity are not always fully exploited as many uni-versities are not aware of the impor-tance of protecting IP generated with-in the institutions. The protection of Intellectual Property Rights (IPRs) is said to be the main motivation for inventors to create new inventions with the idea in mind that such inven-tions will be protected. Also IP is one way to get better ranking and can also generate additional revenue through technology transfer.Universities and Institutions have to be pro with their research and IPR. The institution which wants to survive in to long run has to look to strengthen their ecosystem of innovation. They have to look into different means for making their relationship strong with industry. The universities will be benefited 360 degree if the take the points discussed seriously. IP should be a key consideration in day-to-day business decisions in any increasing knowledge-driven economy
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