Funding, IP & Commercialisation

This is a key topic of discussion for the technology entrepreneurs. Though a technology has been created, the credit of the creation is not always given to the inventor; sometimes it is given to the owner.
Sounds confusing!!!
The inventor of a technology is not always the owner of it, who gains profits out of it. It is the person who patents it.
This was the discussion at IIIT Bangalore which held a one day free workshop on May 8th, 2008 focusing on the topic “Govt Initiatives for Industry Academia Collaboration – Funding, Intellectual Property and Collaboration”.

The workshop opened with the first session on “ GOI Initiatives in Academia Industry Collaboration including entrepreneurship and patent support”, which was addressed by Dr. Garg, Joint Director from Ministry of Communications and Information technology.
Focus points for entrepreneurs while addressing IPRs (Intellectual Property Rights).
1.Require a written IP policy for any process or product to protect innovation within your company.
2.Create an IP Audit before you start a R&D project.
Example: Sasken Communications conducted an IP audit after the R&D project of an anonymous product (which took 2 years to create and incurred Rs.2 crore) and realized that they had infringed 20 patents due to which the product commercialization had to be dismissed.
3.Do IP due diligence – have a checklist.
4.Prioritize patenting needs for budget purpose (cost effective)
5.Look into parameters such as velocity of patenting and patent mapping process.
Challenges faced by entrepreneurs in Patent process
1.Cost involved in IP due diligence is high.
2.IP Infrastructure unavailable.
3.No effective Search system.
GOI Initiatives
1.IPR Promotion Program
2.Trademark Tool: to avoid names with verbal similarities.
3.SIP-EIT for SMEs & Technology Start ups
4.Tide Program
5.Multiplier brand scheme
To know more about these initiatives visit http://www.mit.gov.in/

Session 2 was presented by Mr. Meenakshi Sundaram and Ranjith Menon from IDG Ventures. http://www.idgventures.com/
As VCs they focused on the challenges faced by their entrepreneurs, and how patents helped them.
Note to the entrepreneurs: Find a lawyer who can write your IP covering a broader spectrum to create monopoly.
Do not encourage people as employees to carry IP from one company to another; it is unethical. Have a strong written IP policy in the employee contract.

Later Sunil Maheswari, CEO of Mango Technologies (Incubated out of IIM-B) spoke his journey as an entrepreneur and the importance of patents. He emphasized on the support and encouragement received from the GOI.
http://www.mangotechno.com/