Indian Commerce and Industry Minister Piyush Goyal said:
“I think it is quite unfair that this is restricted only to innovation coming out of government institutions. So, I would like to make an announcement that this 80% fee reduction in patents costs (India or abroad) will now apply to all recognized educational institutions whether it is the government (owned), government-aided, or private institutions irrespective of whether these institutions are situated in India or anywhere in the world”.
We have started to see a change in the mindset of academic institutions. Universities have started filing patents rather than solely focusing on research publications. They have realized that patent filing can be more rewarding commercially. Moreover, it may boost their credibility on a global scale.
This change in mentality will open new doors for academic institutions in India. They can become financially independent and highly profitable businesses. Patents will assist universities in improving their rankings and creating an ecosystem for innovation. Furthermore, they will also incubate knowledge-based start-ups, generate additional income, and monitor research activity.
Introduction of Intellectual Property Centers
The University Grants Commission (UGC) has now urged all universities in India to establish Intellectual Property (IP) Centers as part of its largest drive to create entrepreneurial universities.
As universities compete to establish these centers, they will encounter an unusual human resources problem. Despite policy efforts to increase IP, the country simply does not have enough IP professionals. With the assistance of AI technology, researchers will be able to understand how their ideas differ from the millions of patents and research papers in the space. Further, it can help them move forward in the patenting process with the best ideas. This will not only manage the internal resources and reduce external dependency but also develop a patenting mindset and culture in the universities. Thus, leading to the creation of “valuable IP”.
Many academic institutions, top universities, and visionary universities have adopted XLSCOUT Novelty Checker, which provides an easy-to-use platform. Here, one can enter their ideas and have those ideas compared and evaluated against millions of patents and research publications instantly. It assists in conducting a novelty search to help you ensure that your innovation is unique. Additionally, it also generates a professional, automated novelty search report, which can be presented to the internal intellectual property department or hired attorneys in order to take ideas forward for the patenting process.
Where Novelty Checker helps:
- Students /Professors can themselves assess the patentability of their ideas
- Triggers for Innovation: Generate New Ideas
- Automated Patentability Search Report: Indicator of your idea’s uniqueness
- Research alignment to industry and market requirements
- Patenting culture and democratization of innovation
Further, if you have any queries on this, feel free to contact us. We can also let you know how top universities are democratizing innovation and promoting patent culture.