The recently concluded “Technology Expo” in Goa, organised under the Indian Innovation Growth Programme (IIGP), a collaboration between India’s Department of Science and Technology (DST) and Lockheed Martin, witnessed several new business agreements, creating growth opportunities for talented Indian entrepreneurs.

IIGP aims to enhance the development of India’s entrepreneurial economy by accelerating innovative Indian technologies into markets in the United States and around the world. It is the only programme of its kind that focuses on teaching and world-class commercialisation strategies. The IIGP has also successfully provided innovators a platform to showcase their innovation to the angel investors/VCs/PEs community across India and the globe. In its current edition, the programme has linked close to 20 innovators to various investors, both in India and the US.

At the Goa Expo, many technologies showed how they made a difference to living. They included JeevanDhara, a hand pump integrated with a filtration system for treating contaminated groundwater; Decision Making Tools using digital maps that uses information in the form of digital maps and layers; Diabetes complication diagnosis and guidance, an algorithm-based programme that links a diagnostic hair (imported from Israel) and pathology results machine to give dynamically adjusted patient-centric guidance on diet, exercise and lifestyle adjustments. The technology is applicable in healthcare industry, fitness centres, schools, etc.

Other key technologies on display included multi-fuel/fuel-hydrid I.C. Engine, a new engineering mechanism to be used in machines like car engines, pumps; compressors; wind and water power generators, etc, which is simpler than the currently used crank and other mechanisms and results in superior products in terms of features like, multi-fuel capable fuel flexible engines, energy efficiency and lower carbon footprint.

CareMother: Mobile Pre and High Risk Care is a new integrated mobile software application and set of digital sensors for pregnancy care and high risk pregnancy prediction, identification (for example, pre-eclampsia, anemia, PPH, etc.) and care; and fault tolerant unmanned aerial vehicle autopilot, a low-cost UAV autopilot that is self-tuning (meaning it keeps flying even with incredible damage), which no other UAV currently existing can endure, all without user intervention.

The Goa Technology Expo connected entrepreneurs with relevant industry, investor and business incubation resources. Some of the business agreements signed at the Expo included:

• Rite Products signed a Business Engagement Agreement (BAE) with U. Respect for Testing Prototypes of the cot in real-life settings in U. Respect’s healthcare intervention.
• Jaspreet Singh, designer of ultra-light-weight electric-assist bike, signed a BAE with H.L. Nathurmal to demonstrate its suitability in product profile and upon successful trials and technology validation, discuss for technology transfer based on upfront fee and royalty module.
• Nathurmal also signed a BAE with microbiology division – CSIR-Central Leather Research Institute for “Bio-adhesive” technology. The technology links a bioadhesive product to replace sutures and save the time of surgery as well as the life of the patient.
• Uber Diagnostics Private Limited signed a BAE with Jimit Medico Surgicals for CardioTrack—remote ECG diagnostics technology. The technology links a remote ECG diagnostics CardioTrackTM, a 3-lead, single channel, bipolar ECG device. Upon successful trials and technology validation, the companies would discuss for technology transfer based on upfront fee and royalty module.

Since its introduction in March 2007, IIGP has received an overwhelming response from innovators, inventors, scientists and researchers working across diverse sectors throughout India. This can be seen in the rapid rise of applications—from 107 in 2007 to a record 1,300 in 2014. The quality of innovations submitted for consideration has also improved tremendously, resulting in the number of award-winning technologies doubling since 2011.

IIGP focuses on “Mind to Market” strategies by providing extensive training modules that are structured to help participants gauge and streamline their existing capabilities, and formulate and implement appropriate business strategies. To date, the programme has supported close to 375 innovators. According to an impact study conducted by Earnest & Young, the resulting business agreements have had a cumulative value of Rs. 1,500 crore.