‘Patenting as important as inventing and innovating’

Ch RS Sarma Visakhapatnam | Updated on February 04, 2019

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Indian companies should focus more on innovation and intellectual property rights (IPR) to stay competitive in the world market, according to H Purushottam, Chairman, National Research Development Corporation (NRDC).

Purushottam spoke here on Monday at the first India-Israel Sunrise Open Challenge Hackathon (SOCH), and awards of ₹50 lakh were given to five winning teams from India.

The hackathon was conducted by the AP Innovation Society (APIS) in association with DCF Ventures and Axis Innovation. “The response to the two-nation hackathon was overwhelming,” said Winny Patro, CEO, APIS.

Purushottam lauded the Andhra Pradesh government for encouraging innovation. He exhorted the start-ups and students to develop entrepreneurial spirit and utilise the incentives offered by the Centre and the States, including the funding opportunities available now. He said that the NRDC will assist them in their endeavours.

“Once you have invented, or innovated, something, it is equally important to protect it and IPR is of the greatest significance. Our companies and start-ups should apply for more patents,” he said, and added that awareness was still lacking on the issue. Patro said the hackathon was conducted in Israel on January 27 and 28. Thirty start-ups developed solutions to the problem statements in the challenge.

He said the APIS was making all efforts to promote innovation among students and start-ups and taking up several programmes to develop the right eco-system.

Published on February 04, 2019

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