T-Hub and the State Innovation Cell have been mandated to assist start-ups in Intellectual Property (IP) services and the need of the hour is to look at it in a holistic manner, said IT & Industries secretary Jayesh Ranjan on Wednesday.
He was speaking at the ninth edition of MIPCON 2018: Conference Managing Intellectual Property with theme “Accelerating Innovation & Entrepreneurship by Managing IP Creation in era of AI” organised by the Confederation of Indian Industry (CII) in association with TS Government & IPO.
Mr. Ranjan had also released a study ‘Potential socio-economic benefits of geographical indications (GI) – The Indian scenario. Artificial Intelligence will have a profound impact on the way new products and services are created as it will have disruptive effects on traditional business models forcing re-consideration of IP framework, said ITC divisional chief executive and chairman of CII-TS Sanjay Singh.
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Innovation is playing a major role in generating more number of IPs, he added. Director of Sri Vishnu Educational Society Srinivasan Sundarrajan stressed on taking advantage of expired patents by MSMEs and coming up with good business model for their sustainability.
CSIR-IICT director Rakesh K. Mishra said research is entering in a phase creating a lot of opportunities, hence the industry needs some safety or insurance to make sure investment being made in research is protected by way of IP. He also saw lot of potential for industries in the healthcare sector.
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The international centre for alternative dispute, regional centre in-charge and secretary J. L. N. Murthy, Assistant controller of patents and designs Ravi Sankar, CII-TS V-C and MD of Kirby building systems D. Raju and others also spoke. Delegates from R&D companies, Startups, IP and legal professionals too part in the conference.