Protecting Startups’ Innovations Through Patent and IPR Solutions
Added: (Mon Apr 15 2019)
Pressbox (Press Release) -
Under new startup policy, the government provides various facilities like lower fees, expedited examination and so are being incentivised for patent and IP matters.
Having a patent is now of utmost importance for an inventor. When any startup who worked in the field of research and innovation development is more prone to the risk of infringement and if their novel invention got infringed, may cause a huge loss.
To protect and to foster the protection among the startup, a patent for an invention is a must.
With this goal and an objective of upliftment of the research and development in the country, the government has launched the SIPP scheme in 2016 and increasingly more and more startup is now being a part of this scheme. Currently, there are more than 5000 startups have registered themselves under SIPP scheme and availed the patent protection.
In a recent move, the government has introduced another platform with Israel where startups, research teams, etc.can share their innovation in the areas of agriculture, water, and digital health. The most promising proposals will have the chance to cash prizes, a bilateral market access seminar in Israel and an opportunity to pilot with leading partners in India.
Startup India was launched by the Government of India on January 16, 2016, to build a strong eco-system for nurturing innovation and Startups in the country to drive economic growth and generate large scale employment opportunities. In order to promote entrepreneurship in the country, the Government of India has amended the definition of a Startup.
Significant Changes Made To The Definition Of Startups
a) Age of Startup increased: Taking into account the long gestation period by Startups to establish, an entity shall be considered as a Start-up up to seven years from the date of its incorporation/ registration (from earlier 5 years). However, in the case of Startups in the
Biotechnology sector, the period shall be up to ten years from the date of incorporation/registration.