The Hindu Business Line : Project for helping innovators soon

Tiruchi, Sept. 9 The Department of Science and Technology (DST) will soon launch a National Innovation Project to bridge the gap between innovators and investors, Mr T. Ramasami, Secretary, DST, has said.

The project, to be implemented with World Bank support, will put in place a mechanism to extend ‘risk capital’ to innovators and it would also seek to create wealth from innovations. The project is likely to be implemented over a seven year period with an investment of about $165 million.

The World Bank has already provided a grant for project preparation and the project is likely to go onstream within a year, Dr Ramasami told reporters on the sidelines of the opening ceremony of the new technology incubator building at the Tiruchi Regional Engineering College Science and Technology Entrepreneurs Park (TREC-STEP) here on Saturday.

For inspired research

Dr Ramasami also disclosed that the DST was planning to launch the Innovation in Science Pursuit for Inspired Research (INSPIRE) during the current academic year itself. The project seeks to reach out to about one million students in the age group of 10 to 17 and encourage them to take up research in science through scholarships.

The DST will also play the role of mentor by organising summer science camps for five consecutive years for the top one per cent of the students.

Answering a query, he said the Eleventh Plan allocation for the DST is likely to be seven times higher than in the Tenth Plan.

Japan facility

The Department has also signed an agreement for establishing a research facility in Japan to enable young scientists from India to take up research there in the field of material science, including nano science.

The DST was looking to enter in agreements with other foreign countries for similar initiatives, Dr Ramasami said.

More Stories on : Science & Technology | Research & Development | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page