FITT – IIT-Delhi and i2indiaVentures sign Commercial Agreement

Partnership to create an eco-system for early stage technology commercialization

i2india Ventures and FITT, the Industrial Interface of the Indian Institute of Technology Delhi, have announced the signing of a commercial agreement that is expected to result in the practical utilization of innovations generated by IIT Delhi faculty, students, and staff. i2india Ventures will help in exploring opportunities and building on ideas right from the conception stage, filling gaps often encountered by Indian inventors & entrepreneurs pursuing further development of their idea. This engagement between FITT and i2india Ventures is expected to enhance the atmosphere for innovation at IITB and also create opportunities to grow the technology eco-system.

Mr. Anil Wali, Managing Director, FITT – Indian Institute of Technology, Delhi, said “FITT, IIT Delhi is engaged with i2india, an IP commercialization and Investment Company, associated with Imperial Innovations, UK. FITT is a pioneering industry-academia interface organization in the country, addressing various facets of technology transfer. With the support of top class faculty scientists and students, we foster early stage technology ventures.”

“This agreement demonstrates how i2india’s unique business model can help bridge the academia-industry gap that currently exists in the Indian market. Technology and product innovation will be the key to India’s next cycle of growth. Our country has a lot of scope to improve in the area of product development, but suffer through our inability to commercialise these inventions. While we can learn a lot from Western models, we will have to evolve our own processes here. i2india intends to play a pioneering role in growing this market in India. Our partnership will help professors and students enhance the creation and use of innovations coming out of premier institutes such as IIT Delhi.” said Mr. Deepam, CEO, i2india Ventures.

i2india, an associate of Imperial Innovations Group Plc of UK, aims to emulate the latter’s success at Imperial College, London in India. Imperial Innovations Group Plc, UK was setup by Imperial College to commercialise its research. As opposed to standard VC model, Imperial Innovations incorporates, funds and nurtures technology ventures. It has started over 100 such companies and negotiated over 150 technology licenses, building a market value of over US $300M*. It is publicly traded on the AIM market at the London Stock Exchange.

ABOUT FITT
FITT (Foundation for Innovation and Technology Transfer), is the Industrial Interface of IIT Delhi. It was established at the Indian Institute of Technology Delhi (IIT Delhi) as a Registered Society on the 9th July 1992. The mission of FITT is to be an effective Interface with the Industry to foster, promote and sustain commercialization of Science and technology in the institute for mutual benefits. For more information see: http://www.fitt-iitd.org

For further inquiries: (Secy. Seema – Phone no – 011 26857762/ 26597167)

ABOUT i2india Ventures
i2india is a technology commercialisation and investment company focused on creating commercial value from intellectual property developed in India. It is the Indian arm of UK’s Imperial Innovations Group plc, a company based out of Imperial College London and listed on London Stock Exchange’s AIM. Imperial Innovations is one of the leaders in the UK in the field of technology transfer and commercialisation through the structuring of licensing deals and the transfer of intellectual property into newly formed companies. For more information see: http://www.i2indiaventures.com

Press inquiries only:
Dechama Uthappa, 20:20 MEDIA, dechama@2020india.com
Edna Adelina Fernandes, 20:20 MEDIA, edna@2020india.com

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