Foundation for Innovation and Technology Transfer (FITT) is an industrial interface organization, established at the Indian Institute of Technology Delhi (IIT Delhi) as a Registered Society on 9th July 1992. Dr. NC Nigam was the founding Chairman of FITT, and Dr. AK Sengupta was the first full-time Managing Director. IIT Delhi’s Review Committee Report -1986, recommended the setting up of an industrial foundation to enhance the programmes of interaction and collaboration between IIT and industry. To implement this recommendation the Institute took up this initiative, with a seed grant received from government at that time, which, led to the setting up of FITT.
WHAT WE AIM?
FITT aims to be an effective Interface with the industry to foster, promote and sustain commercialization of science and technology in the Institute for mutual benefits.
OUR SERVICES AND ACTIVITIES:
- Research partnership with industry for technology development and its commercial applications
- Transfer of technology relating to proven R&D outputs
- Intellectual property management
- Innovative problem solving consultancy with industry clients
- Information support service to industry and R&D organizations
- Specialist development programmes
- Corporate membership of FITT
- Facilitate funding for the development of innovative ideas of commercial implications
- Incubation and hand holding tech based new business formation
DSIR has recognized FITT as a Scientific and Industrial Research Organization (SIRO). As a SIRO, FITT is eligible for customs duty exemption for import of capital goods, raw materials and technical know-how that is required for execution of R&D Programmes sponsored by the industry.
“To be an effective interface with the Industry to foster, promote and sustain commercialization of Science and Technology in the Institute for mutual benefits.”
With this mission mode, FITT has:
- enabled knowledge transfer
- created partnerships and linkages with business and community
The team at FITT and IIT Delhi academicians has been largely responsible for our successful outreach efforts including extensive S&T collaborations.