This year, the coronavirus has brought the world to a standstill. However, restricted movement of people, the shutdown of factories, and the absence of vehicles on roads have also breathed a new life into nature.
It is extremely important for us to now think about a greener and sustainable future. It is now that we need to come up with innovative solutions to save our planet from dying.
“Maybe sooner or later we will come out of COVID-19 crisis, but it must be remembered that another catastrophic crisis is waiting to happen and that is climate change. The only remedy which can save us from the terrible impacts of climate change is green innovation. On this day, we should all come forward and pledge to support green innovations and companies that are working on developing such solutions,” said Vivek Singh, Head, IP Drafting Filing and Prosecution at Sagacious IP, during the Virtual IP Conference held on April 28, 2020.
The four-hour-long conference organised by Sagacious IP, a global intellectual property solutions provider firm, also highlighted the importance of intellectual property for businesses and innovation. With support from the Ministry of MSME and National Research Development Corporation (NRDC), the conference attracted 400 participants.
Importance of IPs
The first session saw Mandeep Kaur, IAS, Joint Development Commissioner, Ministry of MSME and Dr H. Purushotham, Chairman and Managing Director of National Research Development Corporation (NRDC) highlight the importance of IPs for businesses.
“The importance of green technologies in India is vital and MSMEs will play a key role in implementing them. The Ministry of MSME is dedicated to providing all the support to MSMEs in terms of funding, consultation, and other resources to succeed,” said Mandeep.
According to Purushotham, protecting and using IPs can bring economic growth, development and help in creating wealth, jobs and GDP. He also added that 85 percent of the market capitalisation of major assets lies in intangible assets such as IPs.
During the event, Purushotham explained that IP protection can help MSMEs gain a competitive advantage since it provides businesses with exclusive rights for a certain period of time. IP protection, according to Purushotham, also attracts investors and protects their interests.
He also explained that IPs not only improve the valuation of the business but also provide new ways of churning revenue through licensing, franchising, or sale.
While addressing the audience, Joel Fernandes, Business Support to the EU-India Policy Dialogues, explained about European Union’s Green Action Plan (GAP) which helps small and medium industries transition into a green economy by allowing them to explore environmental challenges as business opportunities. GAP provides economic and research support to the MSMEs via three initiatives namely COSME, Horizon 2020, and LIFE programme.
Role of startups
The event also saw five green technology startups, shortlisted from the 58 applications, present their startup pitch to the industry leaders and investors.
The five selected startups are Aryav Ecofriendly Resources LLP, Hydrogreens Agri, SID07 Designs, Ishitva Robotics System, and Inoviea Ventures Private Limited.
Gurugram-based Aryav Ecofriendly Resources, which was founded by Sanjay Kumar Garg, Natwar Dhuwalia and Bharat Bhushan Kapoor in 2017, is solving water challenges. The startup has built an Atmospheric Water Generator (AWG) machine which can make water from air.
According to the company’s website, the AWG filters air and condenses it to water. The water is then passed through an ozone generator and carbon filter to provide clean, ready to drink water at less than Rs 2 per litre.
Ishitva Robotics System Pvt Ltd, founded in 2019, is aimed at making waste recovery simple and safe using artificial intelligence and machine learning modules.
Meanwhile, Jammu-based SID07 Designs is working on multiple innovations including a comfortable mask for the healthcare professionals which can be worn for a longer period of time. It is also developing innovative solutions to address the problems related to plastic waste management and bio waste management which come under the broader field of solid waste management.
Noida-based Inoviea Ventures Private Limited is developing fully automatic, programmable, and waterless solar panels.
Bengaluru-based Hydrogreens Agri Solutions aims at solving fodder shortage issues for dairy farmers. The startup provides a climate-controlled vertical growth house for fodder. This allows the farmers to feed organic nutrition to the livestock leading to improved yield and fat content.
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