FICCI hosts Bharat R&D summit 2024 to foster industry-academia collaboration

The event brought together leaders from academia, industry, and government to discuss challenges and opportunities for strengthening India's innovation ecosystem.

During the summit, FICCI also launched a compendium of technologies available for commercialization, designed to bridge the gap between research and practical application.

Jyoti Vij, Director General of FICCI, highlighted India's strides in innovation but stressed the need for clear outcome metrics for research success and deeper industry-academia cooperation. She emphasised the importance of avoiding the middle-income trap by advancing towards a 'Viksit Bharat' through innovation.

Dr Akhilesh Gupta, Senior Advisor to the Department of Science and Technology, underscored the role of public-private partnerships in overcoming barriers to technology readiness and called for greater private sector involvement in research and development.

Professor Sudhir Kumar Barai, Co-Chair of the FICCI Innovation Committee, elaborated on how the New Education Policy (NEP) 2020 encourages multidisciplinary learning and promotes initiatives like the 'Professor of Practice'.

"NEP 2020 is a pivotal step towards creating a holistic education system that nurtures innovation and equips students with the skills necessary for the future," Barai said.

Anandi Iyer, Co- Chair, FICCI Innovation Committee and Director, Fraunhofer India Office emphasized the need for applied research models, such as Fraunhofer's, to accelerate commercialization of innovations and better align academic research with industry needs.

The summit also featured an exhibition showcasing over 50 research projects, reinforcing the message that increased private sector investment and trust-building between academia and industry are vital for India to establish itself as a global leader in innovation. (ANI)