IIT Kharagpur & SBI team up to develop customised portal for intellectual property

In a bid to streamline patent applications and make them available for external use through licensing, IIT Kharagpur and State Bank of India (SBI) are collaborating to develop a customised portal for launching ‘Intellectual Property Development as a service’ (IPDaas) for Intellectual Property Rights generation.

A Memorandum of Understanding (MoU) has already been signed between SBI and the IIT for “a larger gamut of collaborations in the fintech domain”.

Four other departments from IIT — computer science and engineering, electronics and electrical communications, Vinod Gupta School of Management and Rajendra Mishra School of Engineering Entrepreneurship — are also involved in the collaboration with SBI’s Collaborative Innovation Centre team.

Mrutyunjay Mahapatra, Deputy Managing Director of SBI launched this project at IIT Kharagpur, who also applied for a patent for one of his projects with the help of IPDaas.

“This is merely the beginning of what could be termed as a long-term association between SBI and IIT-Kharagpur. IIT has proposed several solutions for real challenges faced by banks, user application, security and management of human resources among others” Mahapatra said.

IPDaas is expected to tap the huge technical expertise of seasoned banking professionals in the organisation.

"It is trend-setting for an organisation like SBI to move towards holistic IP creation. This would create an ecosystem for organisations in India especially in the financial sector to promote their technical expertise," said Prof. PP Chakrabarti, Director, IIT Kharagpur.

With this collaboration, IIT Kharagpur will work with SBI Collaborative Innovation Centre (CIC) team and will assist in the review and associated activities of IPD as a service.