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New Indian Fund to Support Innovation at Engineering Schools and Universities

September 17, 2010, 11:55 am

India’s National Innovation Council, which was created by the government, wants to raise $1-billion to support new ideas for social and business development, including innovative university programs, reports Business Standard. The government has agreed to provide a portion of the money for the effort, but the actual size will depend on raising funds from foundations and other private donors. In addition, the council is trying to spur connections between industry and universities, and it is in the process of identifying Indian universities that will receive an “innovation toolkit” to help them work with businesses on research. “The toolkit will be a set of guidelines on how to innovate,” said Sanjay Dhande, a council member and director of the Indian Institute of Technology in Kanpur. “Moreover, we are also selecting 20 universities, besides the Indian Institutes of Technology, where we can seed innovation,” he said. The council is led by Sam Pitroda, who as former head of the National Knowledge Commission, a government advisory body, largely succeeded in pushing for big changes in the Indian higher-education system.

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