CSIR-Tech Shut Down for Lack of Money

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

“.. Folks, CSIR is shutting down his operation after 6 years… sad for the commercialization of scientific research and development in India. On February 9, a post on CSIR-Tech Facebook page said,” This Many lessons learned for future efforts. “Its website is inactive.

According to a press release from the Ministry of Science, in 2016 for exactly that year, Union Science Minister Harsh Vardhan visited the National Chemical Laboratory, Pune (where CSIR-tech was based) and said that it is “the view that CSIR -Tech has not only introduced small and medium enterprises in India but also for science-based start-up and laboratory 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 commercial deals by the funds and CSIR laboratories. He said, “There was no official office memorandum that gave CSIR-Tech the right to acquire exclusive rights to commercialize the patent portfolio of CSIR.” He said that all the employees had left till November and that the “last employee” was staying behind only for closing it.

Mr. Shrivastav said, “We did some deals with CSIR laboratories but it relied on the enthusiasm of individual directors of all the laboratories. I made arrangements of Rs 30 crore from investors, which was used to pay the wages, but eventually, It could not be expanded because there was no money or money from CSIR. “

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

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

On 2008, CSIR -Tech was to become an autonomous company, which would keep a patent portfolio of all CSIR (2,747 times as 2012) and CSIR will earn revenue, either by promising startup or by organizing equity in making royalties and licensing fees.

Imperial Innovation, a company affiliated to Imperial College London was a model, Mr. Shrivastav said. Unless it came into being 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 Director General 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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