Incentivising Innovation and Technology Commercialisation in India

Igor Nikolic

doi:doi:10.11648/j.stpp.20210502.15

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Incentivising Innovation and Technology Commercialisation in India

Igor Nikolic

Published in Science, Technology & Public Policy (Volume 5, Issue 2)

Received: 13 October 2021 Accepted: 4 November 2021 Published: 17 November 2021

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Abstract

Intellectual property rights, in general, and patents, in particular, are associated with innovation, economic growth, jobs creation and higher wages. In fact, IPR-intensive companies amount to a much higher percentage of the GDP of a country than companies that do not own IPRs. Recognising the many pro-competitive effects of IPRs, in recent years, India has driven several initiatives to promote IP and, thus, innovation. However, some challenges remain. For instance, India faces low levels of R&D investment, insufficient domestic patenting, slow process to obtain and enforce patents, a too-small percentage of commercialised patents, and no national companies contributing to cellular standardisation, which is responsible for driving the digitalisation globally. This article examines several measures that would help India reach its full innovative potential: 1) further increasing the overall IP awareness in society by embarking on training judges, lawyers, and entrepreneurs on IP matters; 2) improving the efficiency of Indian patent system by focusing more on patent quality, which includes hiring more patent examiners at national patent office and providing them with more resources, as well as increasing the number of judges that would be specialised in IP matters; 3) providing direct financial support and tax incentives for domestic R&D and innovation; 4) introducing a centralised approach to support innovative MSMEs, start-ups and universities, especially when they choose to commercialise their IPRs and 5) the government could actively support domestic companies to participate in international technical standardisation and invest in the development of the next generation of standards in order to catch up with Chinese, US and European companies. Taken together, with the right policy measures, India would be one step near its goal of being one of the leading knowledge-based economies to the benefit of Indian society.

Published in	Science, Technology & Public Policy (Volume 5, Issue 2)
DOI	10.11648/j.stpp.20210502.15
Page(s)	105-114
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Patents, Commercialisation, Technology Transfer, Standardisation, Intellectual Property, India

References

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Igor Nikolic. (2021). Incentivising Innovation and Technology Commercialisation in India. Science, Technology & Public Policy, 5(2), 105-114. https://doi.org/10.11648/j.stpp.20210502.15

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Igor Nikolic. Incentivising Innovation and Technology Commercialisation in India. Sci. Technol. Public Policy 2021, 5(2), 105-114. doi: 10.11648/j.stpp.20210502.15

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Igor Nikolic. Incentivising Innovation and Technology Commercialisation in India. Sci Technol Public Policy. 2021;5(2):105-114. doi: 10.11648/j.stpp.20210502.15

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@article{10.11648/j.stpp.20210502.15,
  author = {Igor Nikolic},
  title = {Incentivising Innovation and Technology Commercialisation in India},
  journal = {Science, Technology & Public Policy},
  volume = {5},
  number = {2},
  pages = {105-114},
  doi = {10.11648/j.stpp.20210502.15},
  url = {https://doi.org/10.11648/j.stpp.20210502.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.stpp.20210502.15},
  abstract = {Intellectual property rights, in general, and patents, in particular, are associated with innovation, economic growth, jobs creation and higher wages. In fact, IPR-intensive companies amount to a much higher percentage of the GDP of a country than companies that do not own IPRs. Recognising the many pro-competitive effects of IPRs, in recent years, India has driven several initiatives to promote IP and, thus, innovation. However, some challenges remain. For instance, India faces low levels of R&D investment, insufficient domestic patenting, slow process to obtain and enforce patents, a too-small percentage of commercialised patents, and no national companies contributing to cellular standardisation, which is responsible for driving the digitalisation globally. This article examines several measures that would help India reach its full innovative potential: 1) further increasing the overall IP awareness in society by embarking on training judges, lawyers, and entrepreneurs on IP matters; 2) improving the efficiency of Indian patent system by focusing more on patent quality, which includes hiring more patent examiners at national patent office and providing them with more resources, as well as increasing the number of judges that would be specialised in IP matters; 3) providing direct financial support and tax incentives for domestic R&D and innovation; 4) introducing a centralised approach to support innovative MSMEs, start-ups and universities, especially when they choose to commercialise their IPRs and 5) the government could actively support domestic companies to participate in international technical standardisation and invest in the development of the next generation of standards in order to catch up with Chinese, US and European companies. Taken together, with the right policy measures, India would be one step near its goal of being one of the leading knowledge-based economies to the benefit of Indian society.},
 year = {2021}
}

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TY  - JOUR
T1  - Incentivising Innovation and Technology Commercialisation in India
AU  - Igor Nikolic
Y1  - 2021/11/17
PY  - 2021
N1  - https://doi.org/10.11648/j.stpp.20210502.15
DO  - 10.11648/j.stpp.20210502.15
T2  - Science, Technology & Public Policy
JF  - Science, Technology & Public Policy
JO  - Science, Technology & Public Policy
SP  - 105
EP  - 114
PB  - Science Publishing Group
SN  - 2640-4621
UR  - https://doi.org/10.11648/j.stpp.20210502.15
AB  - Intellectual property rights, in general, and patents, in particular, are associated with innovation, economic growth, jobs creation and higher wages. In fact, IPR-intensive companies amount to a much higher percentage of the GDP of a country than companies that do not own IPRs. Recognising the many pro-competitive effects of IPRs, in recent years, India has driven several initiatives to promote IP and, thus, innovation. However, some challenges remain. For instance, India faces low levels of R&D investment, insufficient domestic patenting, slow process to obtain and enforce patents, a too-small percentage of commercialised patents, and no national companies contributing to cellular standardisation, which is responsible for driving the digitalisation globally. This article examines several measures that would help India reach its full innovative potential: 1) further increasing the overall IP awareness in society by embarking on training judges, lawyers, and entrepreneurs on IP matters; 2) improving the efficiency of Indian patent system by focusing more on patent quality, which includes hiring more patent examiners at national patent office and providing them with more resources, as well as increasing the number of judges that would be specialised in IP matters; 3) providing direct financial support and tax incentives for domestic R&D and innovation; 4) introducing a centralised approach to support innovative MSMEs, start-ups and universities, especially when they choose to commercialise their IPRs and 5) the government could actively support domestic companies to participate in international technical standardisation and invest in the development of the next generation of standards in order to catch up with Chinese, US and European companies. Taken together, with the right policy measures, India would be one step near its goal of being one of the leading knowledge-based economies to the benefit of Indian society.
VL  - 5
IS  - 2
ER  -

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Igor Nikolic

Robert Schuman Centre for Advanced Studies, European University Institute, Florence, Italy

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Igor Nikolic. (2021). Incentivising Innovation and Technology Commercialisation in India. Science, Technology & Public Policy, 5(2), 105-114. https://doi.org/10.11648/j.stpp.20210502.15

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Igor Nikolic. Incentivising Innovation and Technology Commercialisation in India. Sci. Technol. Public Policy 2021, 5(2), 105-114. doi: 10.11648/j.stpp.20210502.15

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Igor Nikolic. Incentivising Innovation and Technology Commercialisation in India. Sci Technol Public Policy. 2021;5(2):105-114. doi: 10.11648/j.stpp.20210502.15

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@article{10.11648/j.stpp.20210502.15,
  author = {Igor Nikolic},
  title = {Incentivising Innovation and Technology Commercialisation in India},
  journal = {Science, Technology & Public Policy},
  volume = {5},
  number = {2},
  pages = {105-114},
  doi = {10.11648/j.stpp.20210502.15},
  url = {https://doi.org/10.11648/j.stpp.20210502.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.stpp.20210502.15},
  abstract = {Intellectual property rights, in general, and patents, in particular, are associated with innovation, economic growth, jobs creation and higher wages. In fact, IPR-intensive companies amount to a much higher percentage of the GDP of a country than companies that do not own IPRs. Recognising the many pro-competitive effects of IPRs, in recent years, India has driven several initiatives to promote IP and, thus, innovation. However, some challenges remain. For instance, India faces low levels of R&D investment, insufficient domestic patenting, slow process to obtain and enforce patents, a too-small percentage of commercialised patents, and no national companies contributing to cellular standardisation, which is responsible for driving the digitalisation globally. This article examines several measures that would help India reach its full innovative potential: 1) further increasing the overall IP awareness in society by embarking on training judges, lawyers, and entrepreneurs on IP matters; 2) improving the efficiency of Indian patent system by focusing more on patent quality, which includes hiring more patent examiners at national patent office and providing them with more resources, as well as increasing the number of judges that would be specialised in IP matters; 3) providing direct financial support and tax incentives for domestic R&D and innovation; 4) introducing a centralised approach to support innovative MSMEs, start-ups and universities, especially when they choose to commercialise their IPRs and 5) the government could actively support domestic companies to participate in international technical standardisation and invest in the development of the next generation of standards in order to catch up with Chinese, US and European companies. Taken together, with the right policy measures, India would be one step near its goal of being one of the leading knowledge-based economies to the benefit of Indian society.},
 year = {2021}
}

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TY  - JOUR
T1  - Incentivising Innovation and Technology Commercialisation in India
AU  - Igor Nikolic
Y1  - 2021/11/17
PY  - 2021
N1  - https://doi.org/10.11648/j.stpp.20210502.15
DO  - 10.11648/j.stpp.20210502.15
T2  - Science, Technology & Public Policy
JF  - Science, Technology & Public Policy
JO  - Science, Technology & Public Policy
SP  - 105
EP  - 114
PB  - Science Publishing Group
SN  - 2640-4621
UR  - https://doi.org/10.11648/j.stpp.20210502.15
AB  - Intellectual property rights, in general, and patents, in particular, are associated with innovation, economic growth, jobs creation and higher wages. In fact, IPR-intensive companies amount to a much higher percentage of the GDP of a country than companies that do not own IPRs. Recognising the many pro-competitive effects of IPRs, in recent years, India has driven several initiatives to promote IP and, thus, innovation. However, some challenges remain. For instance, India faces low levels of R&D investment, insufficient domestic patenting, slow process to obtain and enforce patents, a too-small percentage of commercialised patents, and no national companies contributing to cellular standardisation, which is responsible for driving the digitalisation globally. This article examines several measures that would help India reach its full innovative potential: 1) further increasing the overall IP awareness in society by embarking on training judges, lawyers, and entrepreneurs on IP matters; 2) improving the efficiency of Indian patent system by focusing more on patent quality, which includes hiring more patent examiners at national patent office and providing them with more resources, as well as increasing the number of judges that would be specialised in IP matters; 3) providing direct financial support and tax incentives for domestic R&D and innovation; 4) introducing a centralised approach to support innovative MSMEs, start-ups and universities, especially when they choose to commercialise their IPRs and 5) the government could actively support domestic companies to participate in international technical standardisation and invest in the development of the next generation of standards in order to catch up with Chinese, US and European companies. Taken together, with the right policy measures, India would be one step near its goal of being one of the leading knowledge-based economies to the benefit of Indian society.
VL  - 5
IS  - 2
ER  -

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