The Director General of the Bureau of Indian Standards emphasized the importance of Academia-Industry Collaboration (AIC) in shaping standards that foster innovation and drive economic growth. AIC is a crucial part of the Triple Helix Model of Innovation, which promotes technological advancement and economic development.
Importance of AIC:
- Economic Growth: The IIT Madras Research Park has incubated over 200 startups, attracting more than Rs. 1,000 crore in investments, thereby contributing to economic development.
- Social Benefits: Varieties of Pusa Basmati rice have played a significant role in promoting sustainable basmati rice cultivation and boosting exports.
- High Return on Investment: Research from Germany’s Fraunhofer Institutes shows that targeted research collaborations can yield 18 times the return on investments, improving regional economies, workforce capabilities, and increasing revenues for firms and governments.
Challenges in AIC:
- Lack of Funding: In FY 2020-21, India invested just 0.64% of its GDP in R&D, compared to 3.46% by the US and 2.43% by China.
- High Commercialization Costs: The costs associated with commercializing academic research are high, and there is often a lack of clear, tangible outcomes.
- Limited Motivation for Research: Many academic students lack motivation to engage in research due to limited financial incentives, heavy administrative duties, and inadequate infrastructure.
- Issues with Intellectual Property Monetization: There are challenges related to the monetization of shared intellectual property and differences in project management approaches.
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