[Commons-Law] XLRI, NIF sign MoU to create research council

[Prashant Iyengar]

http://www.financialexpress.com/printer/news/266520/

XLRI, NIF sign MoU to create research council
State Bureau
Posted online: Tuesday , January 29, 2008 at 0045 hrs

Jamshedpur, Jan 28B-School XLRI has entered into a memorandum of
understanding (MoU) with the National Innovation Foundation (NIF) for
creation of a research advisory council (RAC). The council will assess
different innovations sourced by the NIF from Jharkhand, Bihar, part
of West Bengal, Orissa, Chhattisgarh and eastern Uttar Pradesh.

The innovations will be sourced from the NIF's national register for
grassroots innovations. The selected ones will be supported through
nomination to the biennial national innovation award, refining the
product, protection of intellectual property rights associated with it
and offering risk capital investment by NIF's micro venture fund for
setting up enterprises.

According to the MoU signed here on Sunday by NIF national coordinator
(business development & micro venture) L Chinzah and XLRI director
Father E Abraham, the RAC will comprise professors from the B-School,
industry experts and NIF members.

The XLRI's student body, Social Initiative Group for Managerial
Assistance , will also be involved in mentoring and monitoring those
projects. The Sigma will also assist in market benchmarking
innovations and developing business plans.

The NIF plans to provide institutional support in scouting, spawning,
sustaining and scaling up grassroots innovations and help them grow
into self-supporting ventures. Its 'Honey Bee' database of around
10,000 innovations collected and documented by Sristi is part of the
national register of innovation managed and supported by the NIF.

According to Chinzah, the NIF was looking forward for support from the
Sigma and Face for "adding value to" the innovations it came across in
the eastern region during scouting works.

"As the NIF cann't do much on its own following the networking
philosophy, we are trying to build capacities here so that existing
institutions like XLRI can be brought to the platform to add value to
such innovations," said Chinzah.

Speaking on the occasion, the XLRI director said the Sigma and faculty
supported initiative would be of much use to the B-School as "our
students need to go out to villages and see what the real world looks
like".