MoU for creating an ecosystem to promote innovation and entrepreneurship
The Cabinet was apprised of a Memorandum of Understanding (MoU) signed between the Department of Science and Technology and Singapore’s Ministry of Trade and Industry for Cooperation in the fields of Science, Technology and Innovation (STI).
Signed in February 2022, the Cabinet approved MoU provides a mechanism and help in creating and ecosystem that will promote innovation and entrepreneurship in both countries leading to new technology creation, manpower training, IP generation through collaboration.
The new knowledge and technology development through activities implemented under this cooperation will provide impetus to Atmanirbhar Bharat.
The MoU activities will involve product development and technology exchange which may lead to generation of new enterprises and employment.
The objective of this Memorandum is to encourage, develop and facilitate cooperation between India and Singapore in fields of common interest in science, technology and innovation, said the Ministry.
Priority will be given to collaboration within any area of mutual interest that can advance progress in research, innovation and technological development including:
Agriculture and food science and technology;
Advanced manufacturing and engineering;
Green economy, energy, water, climate and natural resources;
Data science, Emerging Technologies;
Advanced Materials; and
Health and biotechnology.
Other areas of common interest will be included through mutual consent in the MoU, said the Cabinet on 29 June 2022. fiinews.com
