For the first time for any university in Andhra Pradesh, Andhra University has prepared an ‘Intellectual Property Policy’ to promote innovation on the campus. Now, ‘The Centre for IPR’ of the university will oversee the documentation process and bear the cost involved in filing for IP rights such as patents. The faculty of the varsity can avail a three-year sabbatical, if they want to work on their venture/start-up (academic spin-off).
As per the IP policy, all the research scholars from applied sciences and engineering branches should apply for IP rights for their research work. IPR has been made a mandatory credit for a few branches of engineering students of the varsity.
DPIIT-IPR Chair, Andhra University, Prof. Hanumanthu Purushotham said that the grant of the patent usually takes about three to four years. “The process involves 56 steps, costing about Rs 8-10 lakh. Now, the university has decided to bear all the costs involved in filing IP rights under this new policy. Once granted, The IP rights will lie with the university. The inventor will get 70% of the revenue generated out of licensing and royalty, while the university will have 30% share. The university may also accept equity in lieu of licensing fee and royalty from the start-ups and academic spin-offs,” said Prof Purushotham.
The university has allocated Rs 2 crore for ‘The Centre for IPR’ from funds appropriated under the Rashtriya Uchchatar Shiksha Abhiyan (RUSA) scheme, apart from the financial assistance being received from the union ministry of commerce and industry. The department for promotion of industry and internal trade of the Union ministry of commerce and industry recently sanctioned an Intellectual Property Rights (IPR) Chair to Andhra University.
Prof Purushotham added that students, research scholars or faculty members can now directly approach the Centre. “They shall submit the invention disclosure form, which will be evaluated for its novelty, patentability criteria and market potential. The policy is expected to nurture innovation and IPR culture in the university. The benefits include improving employability skills of the students and creating awareness on the innovations and IP rights. ,” said Prof Purushotham.