Academic innovations need to brought to market: Sibal

Updated on: Tuesday, January 11, 2011

Talking in favour of the universities being able to sell their intellectual property to reap profits, Union Minister of Human Resource and Development (HRD) Kapil Sibal has said that academic innovations need to be brought to the market place.

Citing the case of Bayh-Dole Act of the USA which gives ownership rights to universities and facilitates transfer of technologies from public to private sector, Sibal said, “We are in the process of enacting a law on the Bayh-Dole Act of USA that facilitates publicly funded R&D (research and development) institutions in India to license out their IP (intellectual property).”

“We are establishing national, regional and state level intellectual property technological management facilities to assist our academic institution in valorisation of their outputs. At this stage, I seek to state that a strong university structure breeds strong innovation and research ability,” Sibal added.

Academic innovations need to brought to market: Sibal

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