Hyderabad :

There are more than 50 small and world-class research institutes in Hyderabad and the number of intellectual minds is countless. For all these years, most of these scientists have limited their discoveries and knowledge-base to the labs, said IT minister KT Rama Rao on Friday, adding that things were going to change.

The Research and Innovation Circle of Hyderabad (RICH), KTR’s brainchild aims to create a synergy of research institutions, academic institutions and industries, was inaugurated at – Indian Institute of Chemical Technology Council of Scientific & Industrial Research (IICT: CSIR).

“The objective of RICH is to initiate, innovate and implement where great minds from diverse backgrounds will work together while creating a social impact. While the Telangana government will initially provide funding, stakeholders from various industries will be brought in soon,” said Ajit Rangnekar, former dean of Indian School of Business (ISB), now director general of RICH. A team called ‘RICH associates’ led by Rangenekar will move to Parishram Bhavan, in Bashergbagh and begin with cataloging the research work done across institutions in the city.

“We will then look at ways in which these institutions can work together, including corporates with an agenda to solve societal problems. While institutions like the Centre for Cellular and Molecular Biology(CCMB), IICT, LV Prasad Eye Institute (LVPEI), International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) and Defence Research and Development Organisation(DRDO), the founding members of RICH will provide the knowledge and the minds, institutions like NALSAR University of Law will look at Intellectual Property Rights (IPR) and ISB will help with the entrepreneurial development,” explained Rangnekar.

Talking about the operational aspects of RICH, which will begin fully in the next 100 days, BV Papa Rao, advisor to TS government for policy and institutional development said: “There will be one non-profit company and a for-profit one to ensure that scientists also get monetary benefits. We also have the support of the Defence ministry which will be open for ideas, commercialisation and civilian use, with those that can be dealt with openly.” KT Rama Rao also expressed delight over the new project.
Union minister for science and tech optmistic

“We have human intellect but there is a lack of enterprises and RICH is aimed to change that. Funding is the biggest challenge and to meet that we are looking at convergence of industries,” he said. Stating that he has been encouraging state governments to take up such collaborative initiatives, Union Minister of State for Science and Technology, YS Chowdary said that he was happy that the Telangana government had launched RICH.

“Now, venture capitalists and lenders will have a major role to play. Once the matrix is fixed, it will be easy to lay the path and I am sure RICH is going to have a nation-wide impact. RICH will help address issues of rural India,” he said.

Representatives of research institutes said that RICH will help them create an industry for innovation and research for scientists.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Telangana / by Express News Service / February 25th, 2017