Lockheed launches innovation programme for Indian firms

Bangalore -- Lockheed Martin Corporation, the $40 billion US aerospace major, Tuesday announced an innovation programme for Indian companies to develop new technologies for harnessing their export potential.

The two-year programme will be administered by the IC2 institute of University of Texas, Austin, and the Federation of Indian Chambers of Commerce and Industries (Ficci).

"We will provide all the funding for the innovation growth programme to Indian entrepreneurs, inventors, technologists and researchers for developing technologies with commercial applications on a global scale," Lockheed Martin's senior vice president Robert H. Trice told reporters here.

The programme is aimed at preparing Indian firms to launch early stage commercial technologies into the global marketplace and drive their export opportunities.

"India is the only country in the APAC region where we are launching such a programme after a similar exercise in Poland recently. Since Indian firms have a strong innovation base, we see an opportunity in promoting their product development in high-end technology for the global market," Trice pointed out.

Lockheed Martin is participating in a big way at the five-day biennial Aero India show beginning Wednesday at the Yelahanka base of the Indian Air Force (IAF), about 20 km from here.

The Indian firms for the programme will be selected through an evaluation process. About 30 of them will be chosen to participate in an entrepreneurship workshop to be delivered by the faculty of University of Texas. Six firms will be selected for business development training.

The FICCI secretary-general's advisor V.K. Topa said the partnership with Lockheed and the IC2 institute offered an excellent opportunity for Indian entrepreneurs to commercialise their technologies faster and expand their reach in global markets.

University of Texas director Sid Burback said the programme aligned well with IC2's mission to promote wealth creation and economic growth through entrepreneurship and commercialisation of technology.