Innovation is at the core of micro, small and medium enterprises (MSMEs). Entrepreneurship is driven by innovation based on novel ideas, especially when it comes to technology-based ventures. Yet Intellectual Property Rights (IPR), the key to protecting innovations, remains a not-so-familiar phenomenon among enterprises.
In a bid to demystify need of IPR in technology transfer, experts came together at ‘National Conference on Technology Transfer at MSME Clusters’ organised by PHD Chamber of Commerce and Industry (PHDCCI) to bridge gap between industry and institutions and aware about the importance of IPR to survive in the market.
Exclusive utilisation of patent acquires great importance on technology upgradation and growth in the industry as well as becoming competitive in the market. “Patents play a key role as incentives for innovation when it comes to market-based economies. Exclusive ownership is important in order to survive in the industry”, said Jyoti Kumari of K&S Partners.
Speaking on the occasion, Mohit Jain, Chairman (MSME Committee), PHD Chamber said, “Intellectual Property Rights are crucial for Technology Transfer and Technological Innovation. Technological Innovation is at the heart of economic change and Intellectual Property is important for the development of economy.”
IPR Chair of Delhi University, Dr Rekha Chaturvedi said, “Thousands of small and medium enterprises are reported to be losing revenues due to lack of awareness about IPRs. In MSMEs, many innovations are happening. It is important to protect them. Patents give a boost to enterprises in market.”
MSME's need to be careful for inadvertent Infringement – Dr Rekha Chaturvedi
— PHD Chamber (@phdchamber1) June 30, 2017
Highlighting the role of institutions in making innovators familiar with technological advancements and their protected utilization in market, National Research Development Corporation CMD Dr H Purushotham told SMEpost, “It is important to bridge the gap between research and industry. NRDC is working very closely with MSMEs by conducting industry-institute interactive meets where technologies available at public-funded institutions are show-cased to enterprises.”
Dr. H. Purushotham says, #technology transforms India. NRDC is helping to boost the #MSME sector by understanding its challenges. pic.twitter.com/lDs0FJGPGD
— SMEpost (@SMEpost) June 30, 2017
Sr Vice President of PHD Chamber of Commerce, Anil Khaitan, highlighted the issues that MSMEs are facing, especially when it comes to marketing, infrastructure, skilled manpower and education.
It is widely acknowledged that Intellectual Property (IP) can improve the competitiveness of SME, especially start-ups, and act as a potential source of revenue for them. The government has too in recent years laid emphasis on IPR by formulating a new IPR Policy, offering IPR sops to start-ups and encouraging states to formulate their own IPR policies.
