India-South Africa sign MoU on grassroot innovation: 5 things to know

By: | Published: July 12, 2016 3:46 PM

MoU on grassroot innovation has been signed between India and South Africa during PM Narendra Modi's visit last week.

India-South Africa, India-South Africa pact, India-South Africa deal, PM modi Africa visitThe MoU agrees that India and South Africa will collaborate in developing long-term strategies and plan of action to help in creating an environment that will promote innovation. (PIB Photo)

In a move that will foster innovation and benefit the rural economy and youth, a MoU on grassroot innovation has been signed between India and South Africa during PM Narendra Modi’s visit last week.

The two countries share an interest in the development of grassroots innovations that can provide the affordable and accessible technological solutions needed by both countries, Dr Vipin Kumar Director of National Innovation Foundation has said.

Prior to the signing of the MoU, a workshop between South Africa and India was organised on July 6 and July 7, 2016. Vipin Kumar said, “there is a need to incubate and convert the ideas into products.”

We take a look at five key points about the grassroot innovation MoU signed between India and South Africa, during PM Modi’s visit:

1) The MoU agrees that India and South Africa will collaborate in developing long-term strategies and plan of action to help in creating an environment that will promote innovation, inclusive of indigenous knowledge and entrepreneurship at the grass root level in both the countries.

2) The MoU covers technology demonstration, training, capacity building, sharing of open-source technologies and joint product development, with a focus on grassroots innovation in selected areas such as agricultural technology and indigenous knowledge systems.

3) The MoU will entail jointly organizing programs of common interests to forums, seminars, workshops and training on matters related to innovation.

4) It will focus on sharing open source technologies with each other for societal benefit with a focus on agriculture technologies, indigenous knowledge systems, and other mutually agreed areas.

5) The two countries will jointly develop projects (including partnering with relevant industries in the respective countries) to assist innovators in converting their ideas into commercially viable innovations leading to joint technology development and transfer of technology for societal benefit.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition