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Posted in Technology

Closure of CSIR-Tech due to lack of money

CSIR Pvt. Tech Limited (CSIR), a company affiliated with the Council for Scientific and Industrial Research (CSIR), and mainly for the commercialization of technology developed by 37 laboratories of the old organization in 75 years has been closed.

“… folks, CSIR is closing its operation after 6 years … sad about commercialization of scientific research and development in India. On February 9, a post on CSIR-Tech’s Facebook page read : “Many lessons learned for future endeavors. “Your website is down.

According to a press release from the Ministry of Science, in 2016, exactly that year, the Union Science Minister Harsh Vardhan visited the National Chemical Laboratory, Pune (where CSIR-tech was located) and said that it is “the opinion that CSIR -Tech has not only introduced small and medium-sized enterprises in India, but also for science-based start-up and lab spin

CSIT-Tech CEO Amitabh Shrivastav, an entrepreneur, told the Hindu that legal aid for the success of CSIR labs, or lack of delay in executing business agreements by funds and CSIR labs. He said: “There was no official memo from the office giving CSIR-Tech the right to acquire exclusive rights to commercialize CSIR’s patent portfolio.” He said that all the employees had left until November and that the “last employee” was left alone to close it.

Mr Shrivastav said: “We made some deals with the CSIR labs, but it was based on the enthusiasm of the individual directors of all the labs. I made 30 crore arrangements with the investors, which were used to pay the salaries, but eventually, it could not be expanded because there was no money or money from CSIR. “

CSIR-Tech’s senior leadership included the directors of CSIR-Labs, in which Dr. S Shivram, former director of the National Chemical Laboratory (a CSIR-Lab), seasoned economist Vijay Kelkar, former finance secretary and president of CSIR-Tech, and businessman Saurabh Shrivastav, former president of NASSCOM; Luis Miranda, Founder, IDFC Pvt Equity and Mohandas Pai, President, Manipal Global Foundation.

Although it is a repository of countless innovative scientists and technologies, CSIR, the nation’s largest patent holder, earns more royalties to keep its patents active. There is a relatively high commercialization rate for their patent (about 9% compared to the world average of 4%) but they earn very little. Most of CSIR’s income has been taken in consultation, and there are projects for India’s defense and space activities. CSIR-Tech was conceived to solve this problem.

In 2008, CSIR -Tech would become a stand-alone company, holding a patent portfolio of all CSIRs (2,747 times more than in 2012) and CSIR would earn revenue, either through promising start-up or by organizing the equity in the realization of royalties and license fees.

Imperial Innovation, a company affiliated with Imperial College London, was a model, Shrivastav said. Unless it became formal, in 2011, there was nothing like CSIR-TECH Imperial Innovation and, except for the CSIR name, there was no practical support from the organization. CSIR CEO Girish Sahni did not respond to requests for comment. Sameer Brahmachari, former CSIR-DG and in whose time the company was called an idea “before its time”

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