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Intellectual Property Filings By Startups Nearly Doubled In Six Years: MeitY

Intellectual Property Filings By Startups Nearly Doubled In Six Years: MeitY

MeitY director Ajai Kumar Garg said that the change came after National IPR Policy

"IPR is the only way to have ownership of technology," Garg added

In union budger 2020, the government pitched for IPR through dedicated policy in this regard

IT ministry (MeitY) director Ajai Kumar Garg on Thursday (February 20) said that the number of intellectual property rights (IPR) filings from startups have nearly doubled in six years.

Garg told PTI that a “sea change” in this direction came after the centre brought the National IPR Policy in 2016. “The number of IPR filings in India have increased significantly. Earlier there used to be 4,000 to 4,500 IPR filings annually six to seven years ago, but today this number has nearly doubled in India,” he said.

“The governments, both central as well as states, are supporting startups and MSMEs on how to create a better footprint around IPR. We should not work only for others, but also create IP for ourselves. Startups are the only way to do it and if we do not support it then we will forever remain dependent on technology. IPR is the only way to have ownership of technology,” Garg was quoted as saying

Recently, the government had emphasised that the National IPR Policy will pave the way to strengthen intellectual property rights in India. It said that the share of domestic filings for patents has increased from 22% in 2013-14 to 34% in 2018-19.

In terms of filing of IP applications, the number of patents has grown by 18% from 2013-14 to 2018-19, while trademarks have grown 69% in the same period. However, in the case of the disbursal of IPR applications, the number of patents has grown 353% from 2013-14 to 2018-19 and trademarks have grown 395% in the same period.

As a result, on a Y-o-Y basis, the country has been creating a global mark in terms of its innovation. For instance, in 2019, the Global Innovation Index ranked India at 52nd position, from 81st in 2015.

Also, the union finance minister Nirmala Sitharaman in the Union Budget 2020 pitched for improved intellectual property rights through dedicated policy in this regard. FM Sitharaman pitched a digital platform to facilitate seamless application and capture of intellectual property rights. She said that a centre would be established within an institute of excellence to solve the complexities and contribute to innovation in the field of intellectual property.

The budget also called for knowledge translation clusters, which would facilitate transfer and customisation of available resources and intellectual property rights. These would be set up across different technology sectors including new and emerging areas.

Author

Bhumika Khatri

Inc42 Staff

Hailing from a business-oriented family, Bhumika has always been crunching numbers in her head. Words are her escape and she looks to find hidden startup stories. Reach her on [email protected]

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