Linking of innovation with industry must for growth: MSME minister: Bhanu Pratap Singh Verma, MoS, Ministry of MSME

New Delhi: Innovation happening both at the grassroots or at the level of higher educational institutions must be linked directly to the industry for its commercialization and the government is looking at means to link the same stated Mr Bhanu Pratap Singh Verma, Minister of State- Ministry of MSME at an event organised by the Associated Chambers of Industry and Commerce of India (ASSOCHAM).

Speaking at a webinar on “5th ICT Startups Awards and Conference BUILDING FOR THE WORLD: Accelerating IP Readiness for INDIA” organized by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), where he was the chief guest, Mr Verma further stated that there has been an appreciable spurt in policy support for young start-ups in different sectors. A large number of startups based on e-commerce-based platforms have attracted venture capital support in the last few years. Some of them have succeeded and created niche for themselves.

“The central government’s ‘Make in India’ initiative aims to boost and encourage the MSME sector as well as local manufacturing,” he said. Under the National Manufacturing Competitiveness Programme, the Ministry of Micro, Small and Medium Enterprises (MSME) is implementing a Scheme“ Building Awareness on Intellectual Property Rights (IPR) for Micro, Small and Medium Enterprises”. In this scheme, setting up of Intellectual Property facilitation center (IPFC) is one of the main activities. The objective of setting up of IPFC is to guide MSME and ​startups regarding utilisation of IP tools and technologies for better management of their intellectual property related needs, said Mr. Bhanu Pratap Singh Verma Minister of State, Ministry of MSME.

“Innovation has reached center-stage in policy – making in the science and technology domain. This has strengthened the resolve of the government to encourage innovation and innovation-based enterprises. At the same time, it has helped in unlocking the latent creative energy of our billion plus people. I take this opportunity to applaud the efforts of the ASSOCHAM”.

India is poised to take the fruits of development through initiatives like Atmanirbhar Bharat India, Digital India and Swachh India to all corners of the country. Ideas of innovators will make a true difference only if all of us in different roles and institutions join hands in creating samvedan-sheelta and srijan-sheelta (compassion and creativity) in the country, said Mr Verma.

He further mentioned that MSME sector was affected the most by COVID-19 pandemic. With the Emergency Credit Line Guarantee Scheme (ECLGS) initiative by Prime Minister Shri Narendra Modi , we have tried to help the MSME sector to revive from the pandemic hit situation by providing the guarantee cover of ₹5 lakh crore, said the minister.

The Guest of Honour, Prof. (Dr) Unnat P. Pandit Controller General of Patents, Designs & Trade Marks, Intellectual Property India, Govt. of India said ”Startups are the changemakers to catalyze the ecosystem”. Startups are equally contributing to the economy with the necessary innovations in tech and addressing all challenges like big corporates are, he stated. He expressed his appreciation for the startup’s technical approach with IP creation and transforming IP driven solutions.

He further said, “The challenge remains in the financial support by the industrialists and businessmen and initiating commercial readiness”. There still lies thinking out-of-the-box for addressing grass root challenges and being competitive with cost effective manner. It’s the responsibility of the society to make green products and support sustainability with societal adaptability, he outlined.

Dr. Hemang Shah Co Chair ASSOCHAM National Council on IPR & India Engineering Lead at Qualcomm Technology Licensing presented a welcome address on the government’s aspirations to make India a startup hub, celebrating the success for SME growth. “India has registered 100th startup at valuation round with 7000 startups registered and 80 startups being registered every day in the Startup India portal” he said. Praising ASSOCHAM for showcasing crucial role for strategic guidance, IPR Filing for its SME members.

Mr. Tabrez Ahmad, Group Director Government Affairs & Public Policy · Dell Technologies said that IP is an aspect of the startup that cannot be ignored, just like a morning sprint, its implication stands same with IP in startup ecosystem. ”Startups should focus on protecting the algorithm and patterns and getting the grant in time”, he stated.

He further continued saying ”Market is evolving and large tech companies are coming up with innovative ideas, it’s timely to get award of IP and ease of getting IP protected. He mentioned that ”There is a strong need of building capacity with startup, academic and industrial link is still fractured in startups and finance support will be helpful”.

In her address, Ms. Manisha Singh Founding Partner, Lexorbis said ”Earlier there was no proactiveness in IP but today’s youth is making all the changes with the help of innovative ideas and moved in the direction of the startup valuation”. She emphasized on the government schemes and policies with the right resources that is helping the startup professionals and focus on building the startup ecosystem.

Mr. K Subodh Kumar Co Chair ASSOCHAM National Council on IPR & Head IP Services Intellectual Property & Engg. Group, Tata Consultancy Services gave the vote of thanks to the audience and extended his sincere thanks to the minister for his beloved presence and his insightful address in the session. ”Digital India” in making is going on the right path to ensure innovation takes place in the technological areas. He congratulated the participants for their exemplary work in the startup environment.