IP Is The Key For Any Social And Economic Development: NRDC at PHD Chamber

PHD Chamber of Commerce and Industry organized a National Conference on Intellectual Property Rights (IPR) Leveraging IPR ecosystem for startups and Academia in which CMD, National Research Development Corporation (NRDC), Dr. H Purushotham said that IP is the key of any social and economic development and informed that NRDC is providing licensing of technologies and innovations to startups especially for MSMEs in India and abroad in the field of bio-technology, chemical, agriculture, engineering and food.

Mr. Purushotham said that startups should make maximum use of incubation centres to minimize the risk of their innovation which give exclusive rights to startups for a certain period of time and emerge as a leading platform to trade patented knowledge for commercialization in MSMEs and other segments of industries.

According to him, the NRDC is assisting inter-ministerial board of DIPP for startup India mission and working as a facilitator for implementing startups and offer its services to them for free of cost.

President, PHD Chamber, Mr. Anil Khaitan suggested that government should support for venture capital and other types of risk financing through tax incentives and offer special financing arrangements including state guarantees for research activities particularly in the early stages of development.

He also suggested that a better co-operation and access to government-supported research centres including universities also is a useful step that could be taken to promote innovation by SMEs and a central clearinghouse a "one-stop shop", for information related to national programmes to support SMEs should also be set up.

President, National Intellectual Property Organisation, Prof. T C James said that SMEs need user-friendly patent offices with lower cost, streamlined procedures climate for R&D would be improved if regulatory and administrative burdens were reduced. Government should come forward to support for basic education, financial assistance with SME training, and promoting greater co-operation and exchanges between business and universities.

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