The UK government Monday announced the completion of the latest round of a training and mentorship programme by a group of Indian social innovators aimed at supporting budding entrepreneurs in marketing their innovations.
The two-week UK-based Leaders in Innovation Fellowships (LIF) programme at the UK Royal Academy of Engineering in London is jointly funded by the UK and partner countries.
"Leaders in Innovation Fellowship has been a hugely successfully scheme under our flagship Newton-Bhabha programme. For the last five years, we have been working with the most talented Indian researchers to address real world issues around commercialisation of innovation, and to build links between academia and industry," said Sarah Mooney, Head of Science and Innovation, British High Commission in India.
The LIF is delivered by the UK's Royal Academy of Engineering and supported by the Newton-Bhabha partnership with the Indian government's Department of Science and Technology (DST) and IIM Ahmedabad's Centre for Innovation Incubation and Entrepreneurship (CIIE).
"Over the past five years LIF has provided commercialisation support to over 80 outstanding engineering entrepreneurs from India, all of whom share a drive to help make the world a better place," said Hayaatun Sillem, CEO of the Royal Academy of Engineering.
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"Commercialisation of research remains a challenge world over and as a result fruits of research are not harvested in the potential quantum. The Leaders in Innovation Fellowships programme has been able to address this by providing capacity building of Indian innovators and researchers," said Harkesh Mittal, Head of DST's National Science & Technology Entrepreneurship Development Board.
This year's cohort of Indian innovators marked the fifth set to take up the programme, which involves entrepreneurs interacting from a panel of mentors, comprising Royal Academy Fellows, business leaders and academia. They receive feedback on their innovations and tips on effective business proposals.
On their return to India, they are further supported through six months of remote mentoring and given access to bespoke events as well as the Academy's global community of over 900 entrepreneurs.
Since its launch in 2014, LIF has provided support and training to 83 engineering researchers from India, helping them build and expand their entrepreneurial skills which are needed to make their businesses a success.
It has also helped alumni raise additional funds, expand their teams and operations, and build successful collaborations with LIF fellows from both India and beyond, the British High Commission in India said.
Over 800 LIF fellows across 16 countries, including India, have benefited from commercialisation training, one-to-one mentoring and bespoke remote support.
The alumni of the programme have raised over 52-million pound in additional funding for the commercialisation of their innovations and to contribute to the sustainable development of their countries.
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