Mr. Anil Wali, Managing Director, FITT - Indian Institute of Technology, Delhi, said “FITT, IIT Delhi is engaged with i2india, an IP commercialization and Investment Company, associated with Imperial Innovations, UK.  FITT is a pioneering industry-academia interface organization in the country, addressing various facets of technology transfer. With the support of top class faculty scientists and students, we foster early stage technology ventures.”

“This agreement demonstrates how i2india’s unique business model can help bridge the academia-industry gap that currently exists in the Indian market. Technology and product innovation will be the key to India’s next cycle of growth. Our country has a lot of scope to improve in the area of product development, but suffer through our inability to commercialise these inventions. While we can learn a lot from Western models, we will have to evolve our own processes here. i2india intends to play a pioneering role in growing this market in India. Our partnership will help professors and students enhance the creation and use of innovations coming out of premier institutes such as IIT Delhi.” said Mr. Deepam, CEO, i2india Ventures.

i2india, an associate of Imperial Innovations Group Plc of UK, aims to emulate the latter’s success at Imperial College, London in India. Imperial Innovations Group Plc, UK was setup by Imperial College to commercialise its research. As opposed to standard VC model, Imperial Innovations incorporates funds and nurtures technology ventures. It has started over 100 such companies and negotiated over 150 technology licenses, building a market value of over US $300M. It is publicly traded on the AIM market at the London Stock Exchange.