Patents simplified online by KITS and NASSCOM CoE

New Delhi [India], August 18 (ANI/NewsVoir): (https://www.coe-iot.com) NASSCOM Centre of Excellence CoE - IoT & AI, a MeitY initiative with State Governments launched an intellectual property (IP) summary platform on its website to help investors and potential clients understand the complex IP-related documents in a simplified and user-friendly manner.

The portal was inaugurated by Meena Nagaraj, IAS, Director Electronics, IT, BT & MD, Karnataka Innovation and Technology Society (KITS) during an online event. Eminent dignitaries including Dr. Ajai K. Garg, Director, Scientist, MeitY and Dr. Bijay Kumar Sahu, PhD, Regional Manager & Officer In-charge, Intellectual Property Facilitation Centre and Technology Innovation Support Centre, NRDC, GOVT of India also graced the event with their presence.

"We are aware that IP documents can be quite challenging to understand from time to time and I want to congratulate NASSCOM-CoE for easing this hurdle through its knowledge initiative and by creating a user-friendly IP summary portal for all of us. Intellectual Property is one of the most valuable assets that one can own and get it monetized for competitive advantage. They have a vital role in all sectors and play a crucial role in investment decisions for many companies. This is especially true in many of India's most highly regarded sectors like technology, advanced manufacturers, biopharmaceuticals products and creative content. Start-ups play a key role in innovation and economic growth by contributing to new business ideas, capital formulation and employment generation. Identification and protection of IP is very crucial for start-ups to safeguard their unique products. This portal will play a very major role as it's a one stop shop for all major companies to access and have details with credentials. This portal created by CoE can also help start-ups to promote their innovation and make it user-friendly for relevant stakeholders involved," said Meena Nagaraj, IAS, Director Electronics, IT, BT & MD, Karnataka Innovation and Technology Society (KITS), GoK.

With this platform, NASSCOM CoE will be showcasing IPs of Start-ups in an easy-to-access summary format on its website (https://www.coe-iot.com). These are IPs granted in India to its incubatees or other affiliated start-ups.

"A patent document is a combination of legal and technical terms. This portal is a solution to very complex technical problems of people from technology and legal world in regard to understanding these complex documents. It will be not only helpful for the start-up community but for the whole technology world in total," said Dr. Ajai K. Garg, Director, Scientist, MeitY.

Dr. Garg further added that most innovations are fuelled by the application of technology that is transforming the way business is done. Traditional businesses will have to watch out for the advancement of technology that can very well replace their business models overnight. AI and other such new age technologies calls for fostering collectively a culture of collaboration and inclusion.

Also, despite their caliber the majority of the start-ups face a common set of challenges to sustain and scale. These include limited access to mentors, funding, investors, networking opportunities, and guidance on go-to-market strategies. Ministry of Electronics & IT (MeitY) has undertaken a slew of proactive, pre-emptive and graded measures to spur the technology led start-up-innovation ecosystem in the country and giving an impetus to the new and emerging technologies.

This proactive approach builds from established best practices designed to strengthen the overall tech start-up development infrastructure and overcome persistent bottlenecks to work grounds up, seamlessly. From technology and theme-based incubation centres to centres of Excellence and accelerators-the aim is to foster an inclusive tech entrepreneurial ecosystem though a multi-pronged approach of empowering innovators, building an assortment of start-ups pan India and continued unhindered support for access to funding, mentoring, technology and networking. Some of the current initiatives are elucidated here.

To make this platform a reality, NASSCOM-CoE engaged with start-up Fastscience who has the expertise of doing the same. After seeking approval from start-ups, their respective IPs were summarized and reviewed following which, CoE's webmaster and the Fastscience team prepared a webpage with all the approved summaries. NASSCOM CoE will also sponsor the initial batch (20 IPs) after which start-ups will be charged on a per summary basis. Their idea is to showcase innovations from Indian start-ups and also increase awareness about their inventions in an engaging manner.

"We are in a dynamic ecosystem where our intellectual property is playing a very important role. But intellectual property awareness and protection is lacking in the country. Industry 4.0 adds serious complications to IP licensing and enforcement because invention and innovations are coming from various geographical locations and there is a need for benefit sharing.

Knowledge must be acknowledged and shouldn't be pirated. We have seen many IT infringements in the recent past. In the knowledge economy, intellectual property plays a very important part and I want to congratulate CoE for bringing this platform which is the need of the hour," said Dr. Bijay Kumar Sahu, PhD, Regional Manager & Officer In-charge, Intellectual Property Facilitation Centre and Technology Innovation Support Centre, NRDC, Govt of India.

The NASSCOM Center of Excellence - IoT & AI is the largest collaborative innovation platform in the emerging technologies of IoT, Analytics, AI/ML, AR/VR and Robotics for Digital Transformation. The main objective of the CoE is to help Indian Deep-Tech Start-ups & Companies leverage cutting edge technologies to build market-ready products.

Through the Start-ups Program, CoE aims to build industry capable talent in an entrepreneurial ecosystem by facilitating Incubation, Funding, Acceleration, Industry Connect and Mentoring. NASSCOM CoE was set up in July 2016 as part of the Digital India initiative of MeitY, with the objective of aiding innovative start-ups in the emerging technologies. NASSCOM CoE-IoT has centres in Bengaluru, Gurugram, Gandhinagar & Vizag.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)