Foundation Day of GITA Was Observed

GITAs vision is to strengthen Indias innovation ecosystem by supporting and promoting technology and innovation-driven companies.
Sheena

Updated: Dec 07, 2020 11:57:01 am

Foundation Day of GITA Was Observed

30 November 2020 Current Affairs:

The 9th foundation day of the Global Innovation Technology Alliance (GITA) is observed on November 29, 2020.

Highlights:
♦ The Global Innovation Technology Alliance (GITA) is a "non-profit" Section 8 Public-Private Partnership (PPP) company that is jointly promoted by the Technology Development Board (TDB) of the Departmentof Science and Technology (DST), Government of India and the Confederation of Indian Industries (CII).
♦ In 2010, the Prime Minister's Council of Trade and Industry recommended the establishment of an independent government entity under the PPP model to professionally manage government funds, thereby providing flexibility for industries that conduct research and development with global partners.
♦ The GITA platform encourages industrial investment in innovative technology solutions in the following ways:
-    Map the technology gap.
-    Conduct expert assessments of available technologies worldwide.
-    Promote strategic partnerships in technology suitable for the Indian economy.
-    Connect industrial and institutional partners for collaborative pairing.
-    Provide soft funding for technology development/acquisition/deployment.
♦ GITA’s vision is to strengthen India’s innovation ecosystem by supporting and promoting technology and innovation-driven companies.
♦ Companies from India are competing with their counterparts from partner countries (including Canada, Finland, Italy, Sweden, Spain and the United Kingdom).
♦ GITA is headquartered in Gulgram, Haryana.

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