New science and tech project

Tiruchirapalli, Sep 9 (UNI) Union Ministry of Science and Technology is planning to implement a new, innovative project to bridge the gap between inventors and investors, with World Bank assistance, according to Dr T Ramasami, Secretary, Department of Science and Technology.

Talking to newsmen here, he said the main purpose of availing World Bank assistance for the project was to achieve the global bench marking of creating wealth from innovation.

He said the seven year project would be implemented in a phsed manner and 165 million US Dollors invested for the first phase.

World Bank had already sanctioned five lakh US Dollars to prepare a detailed report for this initiative, he added.

Under the project, Science Pursuit for Inspired Research (INSPIRE), one million children in the country would be selected for science awards. Apart from this, 10,000 scholorships consisting of Rs one lakh each for a period of five years would also be given to students from standard 12 upto Post-Graduate level.

To a question, he said the allocation for the 11th Five Year Plan would be seven times more than that in the Tenth Plan Period.

UNI