National Research Development Corporation, (NRDC) an Enterprise of the Department of Scientific & Industrial Research, Ministry of Science & Technology, Government of India, has entered into Memorandum of Agreement (MoA) with the Indian Institute of Technology Madras, Chennai (IITM) for commercialisation of technologies/ intellectual properties developed at IITM. NRDC shall also provide its services in IP Evaluation/Valuation in terms of their commercial potential.
The Chairman & Managing Director, NRDC Dr. H. Purushotham said that NRDC has been serving the nation for more than six decades in development, promotion and commercialisation of technologies emanating from R&D organization and academia. It has so far licensed technologies to more than 4800 enterpreneurs/ companies in the country in almost all sector of industry.
IIT Madras Chennai has a rich reservoir of Patents in different sectors which are ready for commercial exploitation. Initially 5-Patents have been selected for offering to industry for commercialization.
One of the noteworthy technologies among them is manufacturing oxygen deficient perovksite nano material for reversible CO2 capture at room temperature which may prove path breaking for pollution control in thermal power and industrial furnaces.
Prof Krishnan Balasubramanian, Dean for Industrial Consultancy & Sponsored Research at IIT Madras hoped that the partnership between IIT-M and NRDC would lead to successful commercialization of IIT-M IPRs and Technologies.