In order to stimulate private sector’s investment in R&D, TDB established Global Innovation & Technology Alliance (GITA) as a Section 25 Company in a Joint Venture between CII and TDB with equity contribution of 51:49 respectively.
The GITA will assist DST in implementing Industrial R&D Programme with different countries under bilateral & multilateral Science & Technology Cooperation agreements. In these country-specific programmes, if one industry from India and one industry from another country proposed jointly to do R&D for developing a marketable product, both the governments will provide financial support up to 50% of project cost to their respective industries.
The GITA has been envisaged as an industry-driven body for supporting competitive innovation clusters which in future can be entrusted with administering of Innovation Fund under a PPP model, IP acquisition by the government for non-exclusive licensing for public and social good, sectors of R&D and promotion of innovation culture in centres of excellence.
For more Information Visit http://www.gita.org.in