The objective of the India Innovation Initiative project is to create an innovation eco-system in the country by sensitizing, encouraging and promoting innovators and facilitating commercialization of the innovations.
DST and CII jointly launched the Young Inventors initiative "Steer the Big Idea" in the year 2004. It was aimed at capturing the innovative ideas from young innovators for the benefit of Industry & society. In 2005, CII & DST joined hands with Industry to form IRIS - Initiative for Research and Innovation in Science. IRIS has been focused so far on school students i.e. innovators below the age group of 18 years. Agilent has been organizing the Agilent Engineering and Technology Awards through which it has been encouraging engineering students towards hands-on engineering in India and recognizing innovation.
The competition will be challenge based. The innovative projects will go through two levels of screening. A panel of judges comprising of eminent scientists, industrialists and experts will do the first screening. There will be a second screening process at the National Fair for selecting the top 5 innovations. These selected innovations /innovators will be awarded cash prizes and offered IP protection and licensing/ commercialization support.
The ESP of this initiative will be identification of projects that would be directly related to industry, matured enough to be used by the industry, with a substantial potential to be commercialized.
Participation is open to all innovators in the age group of 18 years and above.