Global Innovation Partnership India and UK

Ex-post facto approval is given by the Cabinet to the MoU between India and the United Kingdom on a Global Innovation Partnership (GIP).
Sheena

Updated: May 07, 2021 04:41:50 pm

07 May 2021 Current Affairs:Ex-post facto approval is given by the Cabinet to the MoU between India and the United Kingdom on a Global Innovation Partnership (GIP).

Highlights:
♦ The GIP will assist Indian innovators in scaling up their technologies in third countries, allowing them to expand into new markets and become self-sustaining. It will also help India's creative ecosystem. GIP developments will concentrate on sectors relevant to the Sustainable Development Goals (SDGs), assisting recipient countries in achieving their SDGs.
♦ The Partnership will help Indian entrepreneurs and innovators evaluate, scale up, and take their creative development ideas to selected developing countries through seed funding, grants, investments, and technical assistance.
♦ The GIP-selected innovation will accelerate the achievement of the Sustainable Development Goals while also benefiting the bottom of the pyramid, fostering diversity and inclusivity in recipient countries.
♦  In addition, GIP will establish an open and inclusive e-marketplace (E-BAAZAR) for cross-border innovation transfer, with an emphasis on results-based impact evaluation to promote transparency and accountability.
 
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