Jamshedpur, Jan 28 (UNI) National Innovation Foundation (NIF), a wing of Department of Science and Technology of Government of India, has signed a memorandum of Understanding (MoU) with premier B-school Xavier Labour Relations Instititue (XLRI) for developmnent of rural sectors in the eastern region.
NIF national coordinator (Business Development&Micro Venture) L Chinzah and the newly-appointed Director of XLRI Father E Abraham singned on the agreement copies at the institutiion here last evening in presennce of the members of XLRI's Social Initiative Group for Managerial Assistance(SIGMA), which has been entrusted to play an important role for implementation of the MoU areas.
MoU has been aimed at creating a Research Advisory Council (RAC), comprising XLRI professors, industry experts and NIF members, to assess the different technologies and innovations that has scouted recently from the States like Jharkhand, Bihar, some parts of West Bengal, Orissa, Chhattisgarh and eastern Uttar Pradesh.
Mr Chinza said the NIF had already documented 70,000 innovations with the help of various NGOs across the country and out of 10, three innovations were patented in the US while out of 130, 30 were patented in India.
''The importance of innovations is decided on the basis of its use among the common people and the rural masses,'' Mr Chiza said.
Fr Abraham said the initiatives was a great beginning and more faculties would involve with it. He said the MoU signed with the NIF was an effort to improvise the lives of underpriviledged, particularly in the rural areas.
The SIGMA would be involved in mentoring and monitoring the innovations chosen for incubation, the director said and added they would also assist in market benchmarking and dveloping social diffusion or business plans.
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