Parliamentary panel bats for patent commercialisation hubs in IITs

The Parliamentary Standing Committee on Commerce has called for the establishment of Patent Commercialisation Hubs in premier technical institutions such as Indian Institutes of Technologies (IITs) to serve as bridge between academic research and industry application and help innovators move from patenting an idea to bringing it into the market.

In its 192^nd report, the parliamentary panel also proposed a provision to offer matching grants that can reduce the financial burden on researchers and start-ups to encourage prototyping of patented technologies.

The Committee wanted the Patent Commercialisation Hubs to actively facilitate connections with venture capital funds and private investors for further scaling up of successful innovations. The group of parliamentarians also called for the establishment of dedicated “Patent-to-Product Incubation Centres” that offer infrastructure, mentorship, and seed funding support.

These centres should be supported by specific commercialisation grants to ensure that patented technologies do not remain unused or underutilised, the report said.

The Committee’s observations come in the backdrop of a huge gap that exists in the number of patents registered and the patents commercially viable in India. The Committee’s recommendations are part of its desire to make concerted efforts to assist the patent holders in turning the patents as successful products by providing them support in the form of monetary assistance and other facilities.

Responding to the Committee’s observations, Union Ministry of Commerce had pointed out that the government has already taken up several measures to support the patent holders for commercialisation of their patented inventions: According to the ministry, it maintains a comprehensive database, Indian Patent Advanced Search System (inPASS), to provide detailed information on patent applications and granted patents in India to enable interested parties to identify relevant patented inventions, thereby facilitating potential licensing opportunities and supporting the commercialisation efforts of patent holders.

The ministry also pointed out that the government has introduced a system to allow patent holders to voluntarily indicate their willingness to license their patents and provide contact details for interested parties. Similarly, the patent renewal fees for Startups, MSMEs, and educational institutions have been reduced by 80% to ease their financial burden and encourage the continued protection and commercialisation of their patented inventions, the ministry said.