TO FACILITATE streamlining of patent applications, IIT-Kharagpur and State Bank of India on Monday began a collaboration to develop a customised portal for launching ‘Intellectual Property Development as a service’ (IPDaas). While launching the project at the IIT, Mrutyunjay Mahapatra, deputy managing director and CIO of SBI, symbolically applied for patent for one of his projects with the help of IPDaas.
An MoU has already been signed between SBI and the IIT for “a larger gamut of collaborations in the fintech domain”. Four departments from IIT — computer science and engineering, electronics and electrical communications, Vinod Gupta School of Management and Rajendra Mishra School of Engineering Entrepreneurship — are engaged in the collaboration with SBI’s Collaborative Innovation Centre team.
IPDaas will streamline patent applications for solutions developed internally and make them available for external use through licensing, said a statement from the IIT. This will tap the huge technical expertise of seasoned banking professionals in the organisation, it added. “It is trend-setting for an organisation like SBI to move towards holistic IP creation. This will create an ecosystem for organisations in India, especially in the financial sector, to promote their technical expertise,” said Professor P P Chakrabarti, Director of IIT-Kharagpur.
Mahapatra visited several labs focused on research related to security solutions for mobile banking and hardware. “This is merely the beginning of what could be termed as a long-term association between SBI and IIT-Kharagpur. IIT has proposed several solutions for real challenges faced by banks, user application, security and management of human resources among others” Mahapatra said.