The Council of Scientific and Industrial Research (CSIR) has decided to set up an innovation fund of Rs. 400 crores to boost the scientific research done in its labs across the country.
Announcing the new initiative of ‘innovation fund’ at the 29th foundation day lecture organised by Center for Cellular and Molecular Biology, Dr Girish Sahni, Director General of CSIR said that there are more than 2000 findings patented by scientists at CSIR institutes across the country. Many of these patents are restricted to the labs and failed to mature into useful societal contributions. Dr. Sahni felt that the money is most important factor for pitching their scientific developments with the industries and though the government is providing its financial support for the young scientists, the process of getting this money takes very long and by that time it is too late to commercialize their products.