Becoming only the fifth country after US, Japan, Australia and Europe to hold an auction of patented technologies, India eyes to revolutionise its rising economic growth with the pharmaceutical sector daring to break the norm.
The auction, organised by SkyQuest Technology Consulting in partnership Foundation for MSME (micro, small and medium enterprises) Cluster in Ahmedabad on 28th August, did not shy away from the challenge of this maiden launch and displayed creative new technologies some of which can ease your pain using snake venom, fix a metallic tooth in your mouth, detect dengue using a simple dengue kit and can create an HIV/AIDS preventing contraceptive.
Dr. A. S. Rao, Advisor of Foundation of MSME Clusters, emphasised the need of innovation in Gujarat life sciences sector and said, “We hope that this event will prove to be a groundbreaking step in the future of pharma sector and the auction will benefit both the innovator and the industry.”
“There is a huge potential for developing business in patent auctioning as the economy grows, companies need more products to add to their existing portfolio and with patented products the companies can create niche market for themselves,” says Shriya Damani, co-founder & CEO of Skyquest Technology.
The auction comes at a time when lack of a competitive platform for buying and selling technologies holds back several groundbreaking technologies. The show stealer technology at the first Tech Transfer 2010 was the herbal health drink. Made for the overall wellbeing of the body, the drink comes with a temptation: it tastes like beer! The anti lung cancer drug was not far behind. Known as Gefitinib, the patented technology at the auction aimed to create the drug in hassle free manner, making the yield go up and the drug itself far more accessible.
The first of its kind auction of buyers and sellers was supported by the Department of Science and Technology under the Promoting Innovative Clusters Programme and organised by the Foundation of MSME Clusters, a non-profit organisation working to assist local businesses connect more socially, increasing their productivity and development and SkyQuest Technology Consulting which facilitates buying and selling of patents in India.
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