Prof. S. K. Atreya welcomed the participants and explained the concept of launching COIN (The Consortium for Innovation). Innumerable queries were being received on courses in innovation and funding by G.O.I. To meet the challenges of technology diffusion and disruptive innovations need arose for a platform to be formed to address these issues. COIN was formed to bring all aspiring colleges under one umbrella for fruitful symbiosis pertaining to discussions, exchange of ideas, regular meetings and exchange of information with objective of preparing proposals for obtaining grants from various govt. agencies like DST, UGC, AICTE, SERB, and CSIR etc. IIT Delhi earned Rs. 300 crores from projects and research work carried out by obtaining funds from these govt. agencies. International agencies also pour in huge capital for research related work in India. The main sponsors for R&D works are DST, UGC, AICTE and others. 70% of the grant is taken up by Life Sciences, 15% by Computer Science related projects and only 2 to 3% by Hard Core Engineering projects. Most preferred institutions for govt. funding are IISc, IITK, IITB, IITD, Jadhavpur University, BHU and IIT Madras. The key result areas checked by funding agencies are College infrastructure, Quality of faculty, Research papers published, Projects executed, facilities available etc. Following has to be ensured:
1. College will give adequate time for carrying out the activity
2. The research/project work must benefit industry, society and be of use to community
3. College must allow the work to be carried out independently
4. Out-put should be there in terms of research papers, patents etc.
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