3 deals signed in Lockheed Martin growth prog

Bangalore, Aug 23: The Lockheed Martin India Innovation Growth Programme reached a major milestone today with successful signing of deals for three innovations which had won in its first competition for innovations in India.

The deals pertained to pollution free cotton seed delinting technology, caged catalyst conversion system to convert sugar mill waste into petroleum and numerical simulation software products.

As many as 14 innovations, including six from Bangalore had won the awards under the Lockheed Martin India Innovation Growth Programme launched in March this year. As many as 104 applicants were received under the programme out of which 14 were selected.

Speaking at a Tech expo of these innovations, Mr Len Denton of IC2 institute which was coordinating the programme along with FICCI, said a few more deals would be firmed up over the next few months.

Dr Ray O Johnson, Senior Vice President and CTO of Lockheed Martin said that it was a testament to the spirit of entrepreneurship and innovation resident in India to see the winners of the programme achieve a major step forward in the globalisation of their products and technologies only five weeks after the competition results were announced.

One of the deals were signed by Maharashtra state Seeds Corporation with Cottor Plants (India) Pvt Limited to license its pollution free cotton seed delinting technology. Cottor plants would provide the Maharashtra State Seeds Corporation with international manufacturing, marketing and distribution of its technology. The orthers were Sustainable TEchbnologies and Environmental Project Ltd, signing up with K M Sugar Mills (India) to supply caged catalyst conversion systems to convert sugar mill waste to petroleum products, pending the successful outcome of tests being conducted at the Indian Institute of Petroleum and Zeus Numerix Pvt Ltd signing up with Adroitec Information system for marketing and distribution of its numerical simulation software products.

UNI