There have been many innovations which have been converted into marketable products. For some, technology transfer took place with the assistance of Technology Business Incubators (TBIs).
Experts agree that TBIs are a great support when it has come to hand-holding in identifying the market, conducting market research, assessment of business potential, structuring and negotiating deals for technology transfer.
“Out of all the innovations that are reaching TBIs, 50% of them are being converted into successful marketable products,” says Anil Wali, director, FITT, IIT Delhi. Some of the innovations by IIT, Delhi researchers that have been converted into cost-effective products are odourless/waterless urinal trap, decorticator (husk remover) of hard nuts, canal lining products etc.
Lovely Professional University, which developed a medicine for colon cancer, has signed an MoU with a pharmaceutical company for its manufacture.
Vellore Institute of Technology’s TBI helped the creator of a “wet grinder” fetch good compensation by transferring the technology to a manufacturer in Chennai.