INDIA’S INNOVATION BUZZ- ROLE OF Public, Private, Media

Celebrating India’s 75th independence, Indian Prime Minister added `Jai anusandhan' (Research and Innovation) to spur nation to build Innovative India. Earlier the then Prime Minister declared 2010 to 2020 as ` Decade of Innovation'. Will the results be different now? 

The crucial difference is that the call of Innovation Decade did not result in any medals as there are no runners. Now the situation is different- funding for Proof-of- Concept, Innovation Challenges and Demand for local innovations under Make-In- India initiative have created a formidable group of innovators with potential to succeed in world stage. This paper is from upcoming book-Top 100 Indian Innovations.

Download paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4266737

Electronics Development Fund (EDF) policy

As part of the “Digital India” agenda of the Government, it is envisaged to develop the Electronics System Design and Manufacturing (ESDM) sector to achieve “Net Zero Imports” by 2020. Setting up of Electronic Development Fund (EDF) is one of the important strategies which would enable creating a vibrant ecosystem of innovation, research and development (R&D) and with active industry involvement. It is with this objective that an Electronic Development Fund (EDF) is set up as a “Fund of Funds” to participate in professionally managed “Daughter Funds” which in turn will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and Information Technology (IT). The EDF will also help attract venture funds, angel funds and seed funds towards R&D and innovation in the specified areas. It will help create a battery of Daughter funds and Fund Managers who will be seeking good start-ups (potential winners) and selecting them based on professional considerations.

Target Beneficiaries:

Any Daughter Fund which is registered in India and abides with relevant rules and regulations applicable to such Funds, including SEBI regulations on Venture Funds and is set up to achieve the objectives mentioned above will be eligible for support from the EDF.

Fund Manager:

CANBANK Venture Capital Funds Ltd. (CVCFL) http://www.canbankventure.com/ is the Fund Manager for EDF. The role of the Fund Manager of EDF is to consider requests from applicant Venture Funds, Angel Funds and Seed Funds and make recommendations to the Department of Electronics and IT, Government of India. The CVCFL will also be participating in the individual beneficiary Daughter Funds based on the approval of the Department of Electronics and IT.

Time Lines:

The requests for seeking participation by EDF in any Venture Fund, Angel Fund or Seed Fund must be made on or before 31.03.2017

Contact Details:
CVCFL

Shri S. Thiruvadi, MD, CVCFL, md@canbankventure.com. Fax: +91-80- 25583909

­Shri P. Sitaram, Executive Vice President, CVCFL, sitaramp@canbankventure.com
DeitY
Shri Prashant Kumar, Scientist-‘D’ prashant@deity.gov.in

Indian Naval Indigenisation Plan (INIP 2015-30)

Mr Manohar Parrikar, hon'ble Raksha Mantri released 15 year Indian Naval Indigenisation Plan (INIP 2015-30) on 16 July 2015 during a CII-Indian Navy Seminar in New Delhi. 

This document supersedes the Indigenisation Plan published in 2008 for the period 2008-2022.

This document is aimed to enable indigenous development of equipment and systems over the next 15 years. It attempts to formulate the requirements of Indian Navy and lists out the equipment which can be taken up for indigenisation in the coming years. It is expected that release of this plan would further synergise Indian Navy’s relationship with the industry and encourage all sectors of industry to come forward and participate in indigenous development of weapons, sensors and other high end equipment for the Indian Navy, thereby making the nation self-reliant in this vital domain of defence technology.

Download the  document