NEW DELHI, 2 January 2018: The Federation of Indian Chambers of Commerce and Industry (FICCI) today announced the appointment of a high-powered Innovation and Technology Board to mentor the programmes and activities of the FICCI Centre for Innovation, Science and Technology Commercialization (C-Tech). The advisory board would be chaired by the start-up ecosystem veteran, Mr. Saurabh Srivastava and co-chaired by Mr. Ajit Rangnekar, DG, Research & Innovation Circle and Former Dean, Indian School of Business and Mr. Anand Sudarshan, Founder & Director, Sylvant Advisors.
Established in 2007, FICCI C-Tech runs on the three pillars of Innovation-Entrepreneurship-Impact, providing a platform and institutional framework to Indian innovators and entrepreneurs and helping them convert their ideas into businesses. The Centre currently runs several national level multi-stakeholder programmes to support Indian start-ups and innovators, including the India Innovation Growth Programme (IIGP), Millennium Alliance (MA), XLr8 Andhra Pradesh, C.V. Raman International Fellowship Program for African Researchers, Google-FICCI Digital Unlocked Certification, TimeIs, SERB-FICCI Initiative to Promote Industry Relevant R&D with Academia and India-Rwanda Innovation Growth Programme (IRIGP).
The Centre has also recently signed an MoU with the Indian Council of Medical Research (ICMR) under a new program Health Technology Accelerated Commercialization (H:TAC) to commercialize technologies developed by ICMR labs for the benefit of communities at large.
Over the last decade, FICCI C-Tech has received and evaluated more than 15,000 proposals and supported close to 1000 innovative enterprises. Innovators supported through the multiple programs have positively impacted the socio-economic development of not only India but also other developing nations in South Asia and Africa. The India-Rwanda Innovation Growth Programme (IRIGP), a recent addition, is an example of programmes focused on using the ingenuity of Indian innovations for wider global impact. These programmes have created over 12,000 jobs and enabled portfolio companies to earn consolidated revenues of over a billion dollars. The social enterprises support have touched the lives of 6.80 million people from the underserved communities.
To foster south-south cooperation, several Indian companies have been supported to scale their innovations to other developing countries such as Rwanda, Ethiopia, Kenya, Afghanistan, Bangladesh, and Nepal among others.
With the aim of strengthening its commitment to innovation, technology and entrepreneurship, the FICCI Innovation and Technology Board would review, evaluate and advice C-Tech's programme and activities. With a strong board including but not limited to Mr. Vineet Rai, CEO & MD, Aavishkaar Venture Management Services and Mr. Ullas Kamath, MD, Jyothy Laboratories Ltd., the Centre looks to grow and expand its portfolio through programmes focused on a wider range of sectors within the Indian and global start-up ecosystem.
Welcoming the members on board, Dr. Sanjaya Baru, Secretary General, FICCI stated, "With the inclusion of the Innovation and Technology Board, FICCI renews its commitment and is confident of continued growth and success of the work undertaken by C-Tech in fostering and accelerating Indian innovations into the global marketplace."
Mr. Saurabh Srivastava, Chairman of the Board, in a statement said, "As an effective business game-changer, the role of technology in the coming days is immense. With the evolving technology landscape and the inter-disciplinary nature of science, it is about time that the collective knowledge of sectoral experts is consolidated and leveraged for common good. The Board shall provide timely guidance and inputs to FICCI's ongoing initiatives in the start-up and innovation space and help lead FICCI in the domain."
Mr. Anand Sudarshan, Co-Chair stated, "FICCI has been a front-runner in supporting technology enterprises. We are committed to scale start-ups who would act as engines of growth and employment generation."
Mr. Ajit Rangnekar, Co-Chair said "The pioneering role of FICCI in nurturing an innovation-led entrepreneurial ecosystem in the country is well known and acknowledged. The formation of the Board is a thoughtful move to leverage the expertise of sectoral leaders and gain from their wisdom. The Board shall play the role of a mentor to FICCI's initiatives in innovation and entrepreneurship and will help it leap into the next higher level."
FICCI MEDIA DIVISION
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