The National Research Development Corporation (NRDC), which is engaged in promoting indigenous technologies in the Indian industry and startups, will soon expand its wings to the U.S.
The agency has signed Memorandum of Understanding (MoU) with the New Jersey Economic Development Authority (NJEDA) as well as Rowan University which is also in New Jersey. The university has offered free space at its Technology Business Incubation Centre to NRDC to promote Indian technology start-ups.
“It can act as a soft-landing platform for Indian start-ups in New Jersey,” observed Dr. Beena Sukumaran, Vice President for Research, Rowan University, while speaking at the signing ceremony here on Tuesday.
The agreement has been signed to intensify cooperation on innovation. It will also facilitate identification of specific projects and partnerships between entities from India and New Jersey. “The agreement will help in coordinating suitable resources and programs to support R&D projects and startups and in establishing a framework to provide financial support to jointly approved projects,” explained Dr. H Purushotham, Chairman and Managing Director of NRDC, while speaking to India Science Wire.
NJEDA has similar agreements with other technology promotion agencies including the Israel Innovation Authority. International organizations are partnering with countries with the potential to attract investments.
“Indian research laboratories and universities have a repository of U.S. patents and this can be exploited for commercialization. The Council of Scientific and Industrial Research (CSIR) itself has 3000 such patents granted in the U.S., so it is a good platform for partners in the U.S. to work NRDC,” said Dr. Purushotham.
This platform will provide a single-window arrangement for incubation and nurturing of new ideas and innovations. It also helps get financial assistance to potential participants.
The MoU was signed by Dr. H Purushotham, Tim Sullivan (Chief Executive Officer, NJEDA) and Dr. Beena Sukumaran (Vice President for Research, Rowan University) in the presence of Philip Dunton Murphy, Governor, New Jersey State and many senior officials from all the three organizations. (ISW)
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