The Power of Intellectual Property Rights !

   Technology is the growling engine, drives the economies in the 21st century. The development of technology reflects the growth of an economy. No doubt, India is going to be the global leader in technology.  ‘HumCen’ believes in a national dream to build a five trillion-dollar economy by 2025. But what defines the growth of technology?  Number of successful inventions and innovations is the testimony of leading-edge technology.  An invention is an assemblage of technologies and designs that you can put together that nobody else has put together before. That’s where ‘Intellectual property’ comes into the picture. Intellectual property is an invisible property, legitimize your rights on the invention. To patent an invention is equally important as slaving hard on technology. A Global innovation index and countrywide held studies such as ‘Atal ranking of institutions on innovation achievements’ reveal an important data to foster innovation in India. 

Global Innovation Index 

The ‘Global Innovation Index’ is an international joint analysis developed by ‘Cornell University’, ‘INSEAD’ and ‘World Intellectual Property Organization’. Index compiles various metrics for 120 nations based on their capacity and success in innovation. Innovation Input index and Innovation output index are two major indices forms the basis of Global Innovation Index. These indices are further divided into five and two major pillars respectively.  In some areas India has outperformed all major economies such as ICT services exports and Graduates in science and Engineering while ecological sustainability, Environmental performance and Quality of education need funds and attention. Global Innovation index ranks 129 economies based on 80 different factors, in 7 different categories. India has outperformed all major economies in terms of growth. 

• India jumps noted places in last 5 years. In 2015, India’s rank in GII was 81, it ranks 48 in 2020, Top 50.  
• India has maintained to be on the top position among its central and south Asian neighbours for past few years. 
• India ranks 4th among the middle-income economies. 
• In 2019, India reached 15th spot in global R&D expenditures. 
• India’s economy improves four of the seven areas. IP related variables and patent applications have improved considerably. India remains the 26th economy in the quality of innovation and just 2nd after china in middle income economies. 
• India ranks first in terms of ‘Information and communication technologies’ exports. 
• E-participation (rank 15), Gross Capital formation (rank 17), Domestic market scale (rank 3), QS university Rankings (rank 21), ICT services export (rank 1st), Graduates in science and engineering (rank 7), Ease of protecting minority investors (rank 7) are India’s strength. 
• Despite of considerable increment in overall ‘GII’ rank, Education (rank 110), Pupil teacher ratio (rank 104), ICT access (rank 105), ICT use (rank 106), Ecological Sustainability (rank 117), Environmental Performance (rank 125), Females employed (rank 110) are India’s weaknesses. 

Atal ranking of institutions on innovation achievements

Atal ranking of institutions on innovation achievements is an initiative of ministry of human resource development to systematically rank all major higher education institute and universities in India based on ‘Innovation and entrepreneurship development. A mission is to inspire institutes and students to create global innovation ecosystem. Atal ranking has been developed based on seven major factors. Each factor has separate weightage based on its importance in innovation. Atal ranking of institutions has been primarily designed by following factors. 

• Budget, expenses and revenue generated (20% weightage) 
• Awareness activities for promoting idea generation and innovation. (20% weightage) 
• Promotion and supporting entrepreneurship development. (20% weightage)  
• Intellectual property Generation, technology transfer and commercialization. (14% weightage) 
• Infrastructure and facilities to support innovation and start-up (10% weightage) 
• Innovative Learning methods and courses (10% weightage) 
• Innovation in governance of institution. (6% weightage) 

Highlights of ARIIA 

1. India leads the world innovation. 
2. South zone leads the ‘Atal ranking of institutions on innovation achievements’ South Zone primarily consist of ‘Tamil Nadu’, Kerala and Karnataka. It has contributed more than double patents and IPRs than any other zone. South scores 116 followed by North (51), West (49)
3. Tamil Nadu’ tops the state-wise ‘Atal ranking of institutions on innovation achievements. Tamil Nadu scores 81 followed by Maharashtra (31), Telangana (31), Karnataka (25), South-east (38). 
4. Among the institutions of national importance, IIT Madras tops the ranking and followed by IIT Bombay, IIT Delhi, IISc Bangalore and IIT Kharagpur. IIT Madras tops the list because of its strong Incubation Cell and IITM research Park. 
5. KIIT BBSR ranks 1st among the ‘private funded institutes’ while ‘Institute of chemical technology Mumbai’ tops the list from Government Aided University Category.

What is ‘Patent’ and why it’s important?  

Intellectual property is a non-physical property developed by human intellect. There are various types of Intellectual properties such as Copyrights, Trademark, Patents and Trade secrets. The law enforcement and granting of rights governed by national laws. ‘Intellectual property’ of any form truly showcase a company’s ability to innovate but Patent is the foremost important asset for any organization.

• Patent is a form of ‘intellectual property’ which concede a developer/inventor a legal right to exclude others from making a similar product or invention.
• Patents offer pay off for economically productive research and development.
•  Patent assist to build an IP asset which attracts funds for company and wins investors   trust.
• Patent pulls a right to commercialize the invention.
• Creation of a patent is also a great source of encouraging employment.

HumCen Co: A one step solution for innovation and ‘Intellectual property protection’  

HumCen, a global human-centred design company with its seasoned professionals helps in designing, patenting, and commercializing your dream product. It’s a one-step solution for a hassle to build a successful start-up through an experienced team to deliver human centred design for your product. Humcen believes that great innovations are team efforts. We provide a specialized and experienced IP division which helps you to your product into intangible assets. Whether it’s mentoring a design, co creation for innovation or Intellectual property rights, HumCen Co will help you achieve your goals.