IIT Madras to set up firm to license its patents

IIT Madras has decided to form a separate company to license its patented innovations for corporate use.Institute Director M.S. Ananth said ...

IIT Madras has decided to form a separate company to license its patented innovations for corporate use.

Institute Director M.S. Ananth said yesterday that they have constituted a committee to set up the corporate body. This company, likely to be set up in six months, would market innovations under the Intellectual Property Rights (IPR), Ananth said, while delivering a lecture on ‘University as a Business Enterprise’.

The committee members include professor Ashok Jhunjhunwala of IIT Madras and Infosys Deputy MD Gopalakrishnan.

According to Professor Ananth, about 30 per cent of IIT’s expenses were met through consultancy work. This would go up once some of the patented innovations are licensed for corporate use. But Professor Ananth warned that there could be a conflict of ethics once the corporatised structure came into being, with teaching turning out to be less attractive than the consultancy work.

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