Technology Commercialization Model for Indian Centrally Funded Technical Institutions

The concept of commercializing the inventions developed at university laboratories has achieved a global milestone over the past three decades. Innovations and incremental technology developments played an important part in economic development due to the major contribution to the GDP growth of many countries since 1930. There is a great emphasis on technology transfer/licensing or commercialization of technology/inventions from academia to industry. A major jump in technology transfer across the globe has been witnessed categorically from the United States, Europe, China, Japan, and Korea. However, the Indian subcontinent has been lagging far behind these countries regarding financial numbers. The academia in the Indian subcontinent has been suffering due to a lack of strategic initiatives to commercialize IP assets. Hence, the paper discloses a five-step patent commercialization model and modular framework named IBRMI, which addresses the defined problems of Indian centrally funded technical institutions (CFTIs).