Lovely Professional University (LPU) signed Memorandum of Understanding with National Research Development Corporation(NRDC), Ministry of Science and Technology, Govt of India
The Lovely Professional University (LPU) signed an MOU with National Research Development Corporation (NRDC) on 13th Oct 2017. The purpose of the MOU is to license the patented technologies developed by LPU to NDRC for further commercialization. NRDC will provide full support to LPU for filing and commercialization of its Intellectual Property Rights.
NRDC was established in the year 1953 with the primary objective of promoting, developing and commercializing technologies/know-how/inventions/patents. It is presently working under the administrative control of the Dept. of Scientific & Industrial Research, Ministry of Science & Technology. NRDC has forged strong links with the scientific and industrial community in India and abroad and developed a wide network of research institutions, academia and industry and made formal arrangements with them for the commercialization of know-how developed in their laboratories and is now recognized as a large repository of wide range of technologies spread over almost all areas of industries. More than 4800 entrepreneurs have been licensed indigenous technology by NRDC and also helped in establishing a large number of small and medium scale industries.
The MOU was signed by CMD NRDC Dr. H Puroshottam and Registrar of LPU Dr. Monica Gulati, in the presence of IPR Manager NRDC Dr. B K Sahu, Head Division of Research and Development Dr. G. Geetha, Co-ordinator of IPR Cell Dr. Runjhun Tandon, Head of Schools, faculty members and students of LPU.
Dr. H Puroshottam, during his presidential address, mentioned that we are moving towards “Knowledge Economy” and NRDC supports establishing University Innovation Facilitation Center, funding support to conduct field trials and validation, Incubation services etc. He mentioned that China has 4000 Incubation centers compared to India with 134 Incubation centers. He mentioned that LPU has a lot of potential to compete internationally in the field of Science and Technology Innovation. Appreciating the growth of the University in terms of research and student diversity, he applauded the management’s support and faculty members commitment towards Research and Development. He inspired all faculty members and students to strike the right balance between Goddess Saraswathi (Knowledge) and Goddess Lakshmi(Wealth) through innovations and their protection. He also thanked Honourable Chancellor Mr. Ashok Mittal for his leadership qualities and continuous efforts for the growth of the University.
Dr. B K Sahu delivered a lecture on IP monetization and IP commercialization by NRDC.
He shared the success stories of Universities which were able to commercialize their technologies with NRDC. They shared the story how disposable blood bags were imported in India from Japan and then NRDC commercialized their own bags at a cheaper cost for Indian population.
LPU is overwhelmed to see the response of NRDC, a Government of India enterprise for stretching their hands to private Institutions for protection and commercialization of their technologies. The CMD of NRDC showed a keen interest in patented technologies like targeted drug delivery of colon cancer, fitness bracelet, Sitaby posture Proctor etc developed by LPU. A meeting with NRDC will be held in November regarding licensing of these technologies.