Indio-U.S. science and technology endowment fund established
By siliconindia   |   Tuesday, 03 May 2011, 04:16 IST   |    4 Comments
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Indio-U.S. science and technology endowment fund established
Bangalore: Riding on the wings of improved bilateral ties, the Government of India and the U.S. have established the United States - India Science and Technology Endowment Board to manage a fund for joint research and development, innovation, entrepreneurial and commercialization activities in science and technology. The program, which many think a path-breaking one for India's abundant young skilled work force, will be coordinated and administered through the bi-national Indo-U.S. Science and Technology Forum (IUSSTF). The fund is aimed to strengthen and expand science and technology cooperation for public good through S&T research and development related entrepreneurial activities intended to lead to the commercialization of technology for the mutual benefit of both countries. The top priority of the initiative is to focus on individual health by carrying out diagnostic, preventive and curative measures to improve health and by providing quality food and nutrition products. Empowering citizens is another key priority and the program seeks to reduce the digital divide. This could include information and communication technologies with a social impact in areas such as water, agriculture and education. The eligibility this fund mainly demands R&D projects that have application potential and activities that would lead to commercialization of such technologies. Entities from academia, national laboratories, non-governmental R&D institutions and start-up companies also can apply for the endowment. Funding will be competitively awarded through a joint review process, solely on the basis of the merit and feasibility of the final proposal. The size of the grant is set at 1,12,50,000 - 2,25,00,000 ($250,000 - $500,000. Proposals outside this range maybe considered under exceptional circumstances. Prospective applicants are required to submit a Letter of Intent of not more than two pages with the adequate information as listed in the program website www.indousstf.org before 31 May 31, 2011.