Bringing industry and academia together -...

Bringing industry and academia together...

1504

to

2518

to

About FITT 04

Director’s Report 05

Key Activities, Projects and Initiatives 06

Organization 13

Financial Highlights 15

Appendix I - List of IPR Applications Approved by IITD IPR-SC during the Financial Year 2014-15 18

Appendix III - Select Development Projects Undertaken during the Financial Year 2014-15 20

Appendix II - IP Licenses Executed during the Financial Year 2014-15 19

Appendix IV - Corporate Members 23

Annual Accounts 25

What’s inside?

4

Foundation for Innovation and Technology Transfer (FITT) is the Industrial Interface at IIT Delhi. It was established at the Indian Institute of Technology Delhi (IITD) as a Registered Society on 9th July 1992. The mission of FITT is to be an effective interface with the industry to foster, promote and sustain commercialization of science and technology in the Institute for mutual benefits. For over two decades now, FITT has been operating in a mission mode for effecting the interface between the Institute and the industry and has been devising innovative ways to create partnerships and linkages with business and community to enable knowledge transfer for societal benefits. The team at FITT and IITD academicians have been largely responsible for our successful outreach efforts including extensive S&T collaborations.

The role of FITT can be seen in fostering technology development, technical consultancy, collaborative R&D, professional HR development programmes, industry-site visits, event participation, corporate membership etc. This is necessitated by the key agenda of the foundation to showcase and transfer the Institute’s “intellectual ware” to industry and also inject industrial relevance in teaching and research at IITD. Quite a number of short-term and medium-term education courses on emerging technologies have been organized and a number of important problem solving innovative and research oriented consultancy projects have been taken up.

FITT is recognized as Scientific and Industrial Research Organization (SIRO) by DSIR. As a SIRO, FITT is eligible for full custom duty exemption for import of capital goods, raw materials and technology know-how that are required for execution of R&D programmes sponsored by the industry.

About FITT

5

The Foundation for Innovation and Technology Transfer (FITT) is the foremost technology transfer organization from academia in India having been in active operation for over 22 years now. FITT enjoys a pre-eminent position in the country and strives to be amongst the successful such organizations in the world. The constantly evolving relationship between industry and academia largely determines FITT’s approach in shaping partnerships for knowledge transfer and economic good. And, in this, the support of the academic community at the Institute is of particular significance as it helps the team at FITT to contribute much more than just efficient services.

The extensive role of FITT at IIT Delhi can be seen in enabling innovations, business partnerships, R&D projects, industrial consultancy, industry visits, mission-oriented meetings, corporate membership etc. This is necessitated by the key agenda of the Foundation to transfer technology and also inspire industrial relevance in teaching and research. Importantly, FITT offers flexible and convenient formats for external engagement of IIT Delhi academics. The two newsletters - FITT Forum and Technopreneur Bulletin showcase some of the best IITD has to offer in terms of its expertise, knowledgebase and infrastructure as well as other opportunities towards research collaboration and translation.

Akin to the Triple-Helix approach, FITT firmly believes that strong cooperation between the Government, Academia and Industry can help to create novel tools and methods to tackle various challenges facing the country in its’ development journey. Strong research and innovation programs can lead to impactful solutions in the areas of infrastructure, pollution control, water, energy, waste management, financial inclusion, security etc. In this context, FITT plays an important role in exploiting the research capability at IIT Delhi. Working at the interface of business and research, it has been at the forefront in enabling innovations and technology

commercialization by giving boost to partnerships and other value-accretive initiatives. FITT provides superior program management services and is steadily increasing its operational landscape which, while encouraging, is challenging it to attain higher levels of effectiveness and success in its stated mission. The Institute is cognizant of the significance of protecting intellectual property and accordingly, over 430 patents have been filed till date and several more are in the pipeline. Equally important is the emphasis laid on technology licensing. The Professional Candidate Registration program for focused knowledge augmentation continues to attract interest of qualified professionals from amongst the neighboring industries and research / academic institutions.

Towards fostering innovation-led entrepreneurship FITT operates a Technology Business Incubator at the Institute. A Biotechnology Business Incubation Facility has also been established. This flagship program (TBIU) at the Institute is amongst the leading technology commercialization set-ups in the country. As on March 2015, there were 11 technology start-up companies resident at the TBIU out of the 50 units admitted, since the launch of this program. M/s Genesis, Novo Informatics, Wrig Nano and Inkilab Technologies are the four start-ups that have made successful TBIU exits in the recent past towards their scale-up and commercial operations. Several Government support programs of BIRAC, DeitY, TDB and MSME are being facilitated by FITT for enabling regional economic growth through techno-entrepreneurship and we see a lot of interest amongst the targeted groups.

FITT is seeing growing interest amongst the faculty members of IIT Delhi to work with industry. Towards this, FITT strives to initiate and sustain partnerships and keeps on strategizing for increased value creation and thus, maintains its’ special position at IIT Delhi. Of special interest is the responsibility entrusted to it to organize science parks on IIT Delhi campuses.

Director’s Report

Annual Report

FITT 2014 - 15

6

Key Activities, Projects and Initiatives Outreach and Collaboration

FITT has been working as an industry interface organization at IIT Delhi for over two decades now. The evolving relationship between industry and academia has supported knowledge transfer and technology commercialization. The engagement with industry and other organizations is sustained by continued efforts towards various developmental collaborations and other partnership opportunities.

1. FITT facilitates active industry-academia dialogue and enables mutual visits to explore partnership prospects. In pursuance of this goal, industry representatives are regularly invited for presentations, highlighting their priority R&D areas to faculty groups in the Institute, and opportunities for collaborative work with IIT Delhi. High level of R&D collaboration and exploratory study has been conducted at the Institute under the aegis of FITT. During the year 2014-15, there have been a number of visits to FITT by senior people from organizations like GSK, Renault Nissan, Samsung, Vodafone, Newgen, Tech Mahindra, Micromax, CWC, Japan Intellectual Property Association (JIPA) etc.

2. Global Aerospace, Defence and Security Leader Safran has entered into collaboration with FITT, IIT Delhi to initiate research and development in the area of advance machine learning. An MoU was signed on October 29, 2014 between FITT and Safran.

3. FITT has also signed an MOU with Security Printing and Minting Corporation of India Ltd (SPMCIL), New Delhi to foster collaboration on research, training and professional development and exchange of technical expertise in areas of mutual interest including material

sciences and testing capabilities. This MoU was signed on January 19, 2015.

4. Tech Mahindra has entered into a Master Research Agreement with FITT on March 10, 2015 for a period of two years, to initiate research projects with the faculty members of the Institute.

5. The biannual FITT newsletters – FITT Forum and FITT Technopreneurship Bulletin serve as information diffusion channels addressing inter alia, contemporary technical issues, new developments and available opportunities for collaboration, and support for entrepreneurship. The information reaches a wide spectrum of several hundred industrial units, R&D organizations, government agencies, academic institutions and others.

Organized by FITT

y Short Course on “ Economics and Financing of Renewable Energy Technologies” was organized by the Centre for Energy Studies at IITD under the aegis of FITT between July 16-19, 2014.

y Nascent Entrepreneurship Development Programme: A series of lectures and discussion on entrepreneurship was held in the Institute on September 8, 2014 in association with BIRAC and ABLE.

Annual Report

FITT 2014 - 15

7

y I2SES Seminar on Innovation, Sustainability & Entrepreneurship was organised by FITT in association with Knowledge Resource Development & Welfare Group, IITD Alumni Association and co-partnered by PHD Chamber, GJEIS on September 26, 2014.

y To promote the spirit of innovation among students, Ericsson India in association with FITT launched the Ericsson Innovation Awards on October 30, 2014, in the seven IITs (namely; Delhi, Bombay, Roorkee, Kanpur, Kharagpur, BHU & Madras). This award provides funding support of Rs 10lacs to the winners to incubate their project.

y Digital Hampi Workshop and Exhibition sponsored by Department of Science and Technology (DST), GOI was organized on November 18th and 19th, 2014 at the India Habitat Centre.

y An Indo-Finnish Workshop on Inclusive and Frugal Innovation in association with Team Finland and DST was organized on December 10, 2014 at IIT Delhi

y In continuation with the power system award, Power System Operation Corporation Ltd (POSOCO), a wholly owned subsidiary of Power Grid Corporation of India Ltd (POWERGRID) in collaboration with Foundation for Innovation & Technology Transfer (FITT) organized the third edition of POSOCO Power System Award (PPSA-2015) to identify and recognize innovative

research works amongst the intuitions offering PG in Power systems in the country. The Doctoral projects received a cash prize of Rs. 60,000/- each and the Master projects received a cash prize of Rs 30,000/- each.

y An International Conference on Biomaterials, Bio-diagnostics, Tissue Engineering, Drug Delivery and Regenerative Engineering was held during April 15-17, 2015 at IITD.

Technology and Consultancy

Scientific and technological advancement is an important catalytic factor in industrial development and economic progress. An indicator of such programs is the creation of intellectual property and the IPRs. The Institute encourages protection of intellectual assets to foster innovation and create opportunities for wealth creation. FITT facilitates and manages the Institute IPR activities. It receives information, carries out analysis and due diligence and processes the invention disclosures for formal registration as patents, designs etc. Bulk of the actual IP filings, are outsourced to professional attorney firms. Select IP registrations or IP investments have been taken up in association with specialist firms like Intellectual Ventures. The list of IPR applications approved for filing during 2014-15 is given in Appendix-I (Page 18). 27 IP cases were filed during this period.

Annual Report

FITT 2014 - 15

8

FITT is mandated to transfer technologies developed at IITD for commercialization. During 2014-15, five IP licenses were executed (as given in Appendix-II). FITT continuously works on transferring technologies outside.

It is an accepted fact that development of technology and its subsequent transfer to industry from an academic institute are often best accomplished through pursuance of short to medium term problem solving investigative projects. Such projects help in establishing mutual confidence and working relationships. A lot of thrust has been put on such projects by IIT Delhi faculty and FITT has facilitated in their effective execution. This activity has been growing over the years. During the financial year 2014-15, 96 technology development/transfer projects worth Rs. 1677.89 Lakhs have been contracted. Some of the development projects undertaken during 2014-15 are mentioned in Appendix III (Page 20).

Innovation and Enterprise

a. FITT is responsible for operating the Technology Business Incubation Unit (TBIU) at the Institute Campus.

TBIU primarily aims to promote partnerships with new technology entrepreneurs and start-up companies. As part of the TBIU program, subsidized modular space is provided to new entrepreneurs, first generation start-up companies or technology based organizations for setting up an office or work station or a prototype laboratory within the campus, with the purpose of :

i) Promoting interaction with, and technology/expertise resourcing from the members of academic staff and research scholars of the Institute, and

ii) Incubating novel technology and business ideas into viable commercial products or services.

Permitted activities in the TBIU include product development, product innovations, software testing simulation and prototyping, pilot experimentation, training and similar other technology related work, in which there exists homology with the Institute.

Recently, a Biotechnology Business Incubator Facility (BBIF) has been established by FITT with funding from Biotechnology Industry Research Assistance Council (BIRAC). The incubator facilitates provision of specialized equipments, experimental facilities, IP guidance, market linkages etc to the bio-tech start-ups.

To the budding techno-entrepreneurs, FITT offers an ambient ecosystem that nurtures new age technical businesses. Hand-holding, networking, managerial and material support etc are easily forthcoming for the truly innovative forays.

The administration and management of the incubators (TBIU & BBIF) is vested with FITT, yet, an institute level empowered committee (known as TBIU Board) oversees the programme. The Board as on March 31, 2015, comprised of:

1. Prof RK Shevgaonkar, Director, IIT Delhi, Chairman (Ex-officio)

2. Prof SK Koul, Deputy Director (S&P), IIT Delhi, Member (Ex-officio)

3. Prof SN Singh, Deputy Director (O) IIT Delhi, Member (Ex-officio)

4. Prof S Tuli, Dean (IRD), IIT Delhi, Member (Ex-officio)

Annual Report

FITT 2014 - 15

9

5. Prof KS Rao, Dean (Infrastructure) IIT Delhi, Member (Ex-officio)

6. Mr L Jalan, CEO, Reliance Infra Ltd, Member

7. Mr R Pandhare, Irene Health Care, New Delhi, Member

8. Mr P Gupta, Chairman & MD, Cyber Media (I) Ltd, Member

9. Dr A Wali, MD, FITT, Member-Secretary

Another high level committee, the Standing Screening Committee screens and evaluates the incubation proposals from innovators / start-ups for admission to the TBIU. This committee comprises both senior faculty scientists and industry experts to ensure due diligence of the technology business incubation proposals.

b. The following start-ups (Promoters/Faculty) have been resident at TBIU & BBIF during FY 2014-15:

1. Genesis Location Services Pvt Ltd (Mr Indrajeet, CEO; Prof S Choudhury, EE) Genesis has developed an on-board attendance

for school children and BPO employees with GPS tracking of their vehicles, smart sub-station monitoring system for electrical distribution companies. It can monitor the Real Time Parameters of Transformer, RMU as well as Remote Data collection from meters using GPRS technology. It has also brought out a wireless connectivity option from RTU to SCADA using transparent channel modem for Electricity Transmission Companies. The start-up has exited the TBIU in August, 2014 and started its operation from outside.

2. Novo Informatics Private Ltd (Mr S Kapoor, CEO; Prof B Jayaram, Coordinator

SCFBio) The start-up has developed software products like

novo-genomics, novo-proteomics, geno-analyzer and disease specific database for bridging gap between bio-informatics and experimentation. The start-up has exited the TBIU in March, 2015 and

began its scale-up and commercialization.

3. Wrig Nano Systems Pvt Ltd (Mr A Srivastava, CEO; Prof V Koul, CBME) Wrig Nanosystems has developed a hemometer

for measuring hemoglobin in blood. This portable device is based on advanced bioelectronics technologies providing higher level of convenience and accuracy. The company has exited the TBIU in December, 2014 and began its commercialization.

4. PLANiN Innovation and Consultancy Services Pvt Ltd

(Mr F Bhushan, Director; Prof A Chawla, ME) The start-up has plans to develop a basket of

innovative products with proprietary technologies. The company has developed a service Vehicool and is presently working on smart swipes, flexible notice boards and space management software.

5. Silver Knight Technologies Pvt Ltd (Mr A Mani, Director; Prof SP Singh and Dr AK

Darpe, ME) The venture aims to develop an Advanced Anti-Theft

Bag with unique features like pilfer-proof casing, unique zip and lock mechanism & track and trace system. The company has began its upscaling and exited the TBIU in October, 2014.

TrueHb Hemometer by Wrig Nano

Annual Report

FITT 2014 - 15

10

6. Carbon Neutral Technologies Pvt Ltd (Dr D Dugar, Director; Prof TR Sreekrishnan, DBEB) The start-up aims to develop an alternate

manufacturing process for isoprene-a key industrial input at an economical cost. The company exited during December, 2014.

7. Kentellus Welding & Manufacturing Pvt Ltd (Mr T Raharia; Prof S Pandey, ME) The venture targets the production of welding

electrodes of better quality which would have higher market acceptability. The development uses green technology while minimizing the use of hazardous chemical and promises better welded characteristics.

8. Ekam Eco Solutions Pvt Ltd (Mr U Banerjee, alumni IITD; Dr VM Chariar, CRDT)

The start-up aims on ecological solutions in the field of sanitation, water conservation, nutrient recovery and sustainable habitat. The team in the start-up plans to leverage on some products in area of clean environment like Zerodor (waterless, odourless urinal trap), Waterless urinal pans and system, E-pan (Ecological sanitation toilets), prefabricated urinal kiosks, reactor for phosphate & nitrate recovery from urine and nutrizorb modules for deployment in wastewater plants.

9. Inkilab Technologies Pvt Ltd (Dr S Mohanty, ChemE) The venture promoted by Dr Mohanty plans

to develop diagnostics based technologies to facilitate process design and decision making in manufacturing processes. Focus on optical analysis of various processes involved in manufacturing to provide low cost, integrated techniques for real time decision making towards separating out defective parts at various stages. The company has exited the TBIU in December, 2014.

10. Credext Technologies Pvt Ltd (Mr R Jain, BSTTM; Dr B Lall, EE) The start-up made a prototype of Falcon Virtual

PC – device that enables a user to access his/

her desktop at remote location through a low bandwidth technology service provider network. The innovative prototype has been awarded under programme of ICICI Trinity.

11. Creditas Solutions Pvt Ltd (Mr A Panwar & Mr M Srinivasan Director; Dr S

Hegde, Sr System Programmer (SG) / Manager, AM) The start-up is focused on developing an on-line

platform for debt negotiation and settlements. It plans to work on development of a portal which shall integrate debtor and creditors for recovery of dues / bad assets.

12. Innovator Lab Consultants India Pvt Ltd (Dr SK Shad, Director; Dr A Prasad, AM) The venture has developed a mechanical heart valve

fixation system: An improved design for superior cardiac performance.

13. VM Trans Innovations Pvt Ltd (Dr N B Bolia, Director, ME) The start-up promoted by Dr Bolia is in operation

since February 2015. This start-up is focused on developing an intelligient online platform for road transport management and exchange system.

Mr U Banerjee (EkamEco) recipient of ABP News Global CSR Excellence & Leadership Award

Annual Report

FITT 2014 - 15

11

14. Sakosh Biotech Pvt Ltd (Dr K Singh, Dr G Pandey, Director ;Prof TK

Chaudhuri, KSBS) The venture incubated in BBIF, since February

2015, proposes the development of lateral flow immunoassay based diagnostic rapid card tests for infectious disease. It plans to prepare all reagents in-house which shall help in expansion of product range.

15. Cutting Edge Medical Devices Pvt Ltd (Dr P Parashar, Director; Prof S Anand, CBME) This start-up is working on portable urine

protein analyser- SCINTILLA, a battery run device rechargeable with solar panel. The company has been incubated in the Bio- incubator since February, 2015.

16. Rapid Diagnosis of Bacterial gastroenteritis at resource poor setting

(Dr V Perumal & Dr R Elagovan) This proposal submitted by Dr V Perumal and Dr

R Elangovan; KSBS has been sanctioned BIG grant and is incubated in the BBIF since March, 2015.

c. Towards leveraging the Institute’s forward looking agenda, FITT has adopted several programmes to enrich the entrepreneurial ecosystem and technology commercialization efforts at the Institute. Seed support in the broad area of IT is also forthcoming under the Department of Information Technology (DIT) programme – “Technology Incubation and Development of Entrepreneurs” (TIDE) scheme in operation with FITT. Similarly, the MSME scheme “Entrepreneurial and Managerial Development of SMEs through Incubators” has been dovetailed with the incubation programme at the Institute to promote emerging technological and knowledge based innovative ventures that seek the nurturing of ideas from professionals beyond the traditional activities of MSMEs. FITT is also a beneficiary of the grant assistance of Rs. 1crore from the Technology Development Board (TDB) for the specific purpose of providing early stage financial support to start-up units incubated at TBIU. Towards accomplishment of the programme objectives, FITT organized several

awareness workshops, disseminated promotional material and processed application proposals.

d. FITT is one of the five BIG Partners of BIRAC in the country under their novel program called Biotechnology Ignition Grant (BIG) to support start-ups and scientist entrepreneurs towards commercialization of their ideas and research resultants by providing early stage grants for development and maturation of their discoveries/inventions into marketable products. The BIG scheme is designed to establish and validate proof-of-concept and enable creation of spin-offs. For more information: http://www.birac.nic.in/

e. FITT has a Memorandum of Understanding with the Wallonia Foreign Trade and Investment Agency (AWEX), Belgium wherein Wallonia Tech program is designed to create high-profit sustainable global companies from pioneering start-ups using Wallonia as a hub for their expansion in Europe. Besides, this partnership is aimed to help FITT recommend (including TBIU) technology start-up companies to gain access to the markets in the European Union.

Professional Development Programmes

a. Consistent with its objectives towards knowledge transfer, a program called “Professional Candidate

Annual Report

FITT 2014 - 15

12

Registration” is under operation by FITT towards outreaching the academic options amongst the targeted professional segments in industry, research and academia. Through this program suitably qualified candidates can undertake a single professional course module of relevance at IIT Delhi and thus enhance their knowledge and skill set. A total of 85 candidates participated in this programme during I & II Semester of 2014-15. This is a programme that promises good potential in the targeted Delhi NCR region.

b. The Educational Technology Services Centre of IIT Delhi develops single concept and full course video programmes. These video products are marketed by FITT.

Corporate Membership

The key endeavour of FITT is to have a formal and effective relationship with its industry partners on a mutually supportive basis. As a mechanism to formalize this relationship, FITT offers corporate membership to industry, industry associations and industrial research institutions on the payment of nominal annual fees. Corporate members receive information about Institute programmes and other opportunities

for collaboration regularly. In addition, they enjoy a variety of complimentary services and opportunities for partnership. Appendix-IV (Page 23) lists some of our corporate members.

FITT Awards

Foundation for Innovation and Technology Transfer (FITT) has instituted two awards, one each for Ph.D. and M.Tech. /M.S. project adjudged as the best Industry Relevant Projects. During the last financial year Ms Ruchi Tiwari under the guidance of Prof S Chandra(PI), CARE was the recipient of FITT award in the PhD category.

Recognition

FITT is recognized (by DSIR) as a Scientific and Industrial Research Organization (SIRO). As a SIRO, FITT is eligible for full custom duty exemption for import of capital goods, raw materials and technology know-how that are required for execution of R&D programmes.

Annual Report

FITT 2014 - 15

13

OrganizationOrganization Structure

The Management of FITT is vested with a full time Managing Director. The policy guidelines for operations are provided and overall control is exercised by the FITT Governing Council. The broad organization structure is given in the organizational chart in this section.

Governing Council

The Governing Council of FITT comprises representatives from Industry Associations/ Industries, nominees of IIT Delhi Senate and Board of Governors. In addition, there is one nominee of the Ministry of Human Resources Development. The corporate members of FITT elect one member each from three categories (A, B & C) respectively. The Director of IIT Delhi is the ex-officio Chairman of the

FITT Organization Chart

FITT Governing Council, and the Dean, IRD, IIT Delhi is an ex-officio member. The Managing Director is the ex-officio Member-Secretary.

Governing Council

Managing Director

Staff Members & Associates

Business Development,Technology Transfer &

Information Dissemination

Finance, Administration& Technical Services

Entrepreneurship &

Incubation

ProfessionalDevelopmentScience Park

Research Council

Ex C BD Ex C C TT COO

COO: Chief Operating OfficerEx: Executive

C: Consultant BD: Business Development

TT: Technology Transfer

Annual Report

FITT 2014 - 15

14

Mr A Das Executive Director, CII

Dr S Hariharan Chairman-North Zone, Indian Chemical Council

Mr A Gupta Adviser, DSIR

Mr S Kapoor President & CEO (TTB), SRF Ltd

Mr A Mishra Director, Ministry of HRD

Ms A Agarwal Director, COSMOS Advanced Diagnostics LLP

Mr RN Khanna Managing Director, C&S Electric Ltd

Mr T Pandey President and Country Head (Strategic Initiatives, Govt & Advisory), Yes Bank Ltd

Prof SK Koul CARE, IIT Delhi

Prof S Tuli, Dean (R&D), IIT Delhi

Prof SM Ishtiaque Textile Technology, IIT Delhi

Prof AK Gosain Civil Engineering, IIT Delhi

Prof PVM Rao Mechanical Engineering, IIT Delhi

Dr A Wali MD, FITT, Member-Secretary

Governing Council

(as on 31st March, 2015)Prof RK Shevgaonkar

Director, IIT Delhi Chairman

Dr A Wali Managing Director, FITT

Chairman

Research Council

Prof B Jayaram Chemistry, IITD

Prof AK Gosain CE, IITD

Prof AN Bhaskarwar ChemE, IITD

Prof AK Gosh CPSE, IITD

Prof BP Pal Physics, IITD (Retd)

Prof SR Kale ME, IITD

Dr A Kumar CARE, IITD

Mr V Sharma MD, Deki Electronic Ltd

Mr M Kapur CEO, C&S Electric Ltd

Mr VS Goindi Chairman, Goindi Group

Dr RK Malhotra Director (R&D), IOC Ltd

Dr D Dogra President IITD Alumni Association

Mr I Bhaskar Secretary, IITD Alumni Association

Dr PK Bhatnagar Sr VP, Ranbaxy Laboratories Ltd (Retd)

Mr A Das Executive Director, CII

Mr KK Roy COO, FITT, Member- Secretary

Annual Report

FITT 2014 - 15

15

Financial Highlights

Annual Report

FITT 2014 - 15

16

2010-11 2011-12 2012-13 2013-14 2014-15

Investments

Bank Deposits and Bonds 2,328.50 2,303.50 2,983.50 3,403.50 3,603.50

Earnings

(i) Interest 166.43 200.57 262.39 281.21 345.86

(ii) Projects/Other Activities 59.22 70.30 95.13 87.63 82.45

(iii) Corporate Membership Fees 5.71 4.66 2.53 2.30 2.04

Expenditures

(i) Capital 0.15 0.16 2.23 1.84 1.59

(ii) Operational/Promotional/ Administrative 95.93 95.92 128.87 147.33 167.40

(iii) Rent for Office Premises (Payable to IIT Delhi) 5.27 5.27 5.27 5.27 5.27

Operational Growth (%)

Fund for Transfer to IIT Delhi (Project Activities) 72.64 80.19 88.23 82.57 70.43

Assets Generated for IIT Delhi out of project activities administered by FITT

154.32 58.31 41.43 49.21 58.22

Value of Projects Contracted/Other Activities at FITT 1,017.66 990.70 1,102.59 1,698.77 1,677.86

(Figures in Lakhs of Rupees)

Annual Report

FITT 2014 - 15

17

Financial Year

Figu

res

in R

s. L

akhs

1,8001,6001,4001,2001,000

800600400200

02010-2011 2011-2012 2012-2013 2013-2014 2014-2015

Sales of Video Programmes

HRD Programmes

Projects (including Technology Transfer)

Total0.77

871.

7014

5.19

1,01

7.66

0.44 11

7.79

872.

4799

0.70

204.

3089

8.29

1,10

2.59

1,6

77.8

6

1,6

77.8

6

287.

681,

411.

091,

698.

77

Value of major activities undertaken by FITT

Financial Year

Financial Year

Financial Year

Asset generated for IIT Delhi

Figu

res

in R

s. L

akhs

250

200

150

100

50

0

Income Profile of FITT

Figu

res

in R

s. L

akhs

Resource Generation for FITT & IIT Delhi

Figu

res

in R

s. L

akhs

200

180

160

140

120

100

80

60

40

20

02010-2011

2.91 12

.38

43.9

3 72.6

413

1.86

2011-2012

3.40 17

.13

49.7

780

.19

150.

49

2012-2013

1.03 17

.11

77.0

0 88.2

318

3.37

2014-2015

5.81 16

.38

60.2

770

.43

152.

89

Royalty

HRD Activities

Projects

Fund Transfer to IITD

Total

Operational Income

Interest Income

Total

Fund Transferred

Equipment & Infrastructure

Total2010-2011

72.6

415

4.32

226.

96

66.8

616

6.43 23

3.29

2010-2011

77.2

320

0.57

277.

80

2011-2012

99.5

626

0.40 36

1.96

2012-2013

95.6

528

1.21 37

6.86

2013-2014

84.4

934

5.86 43

0.35

2014-2015

2011-2012

80.1

958

.31

138.

50

2012-2013

88.2

341

.43

129.

66

2013-2014

82.5

7

70.

43

49.2

1

58.2

2

131.

78

128.

65

2014-2015

2013-2014

5.78 20

.14

61.7

0 82.5

717

0.19

450400350300250200150100

500

Annual Report

FITT 2014 - 15

18

List of IPR Applications Approved by IITD IPR-SC during the Financial Year 2014-15

S No Title PI/Dept

1 A bonsai form of archeal L-Asparaginase and uses thereof Dr B Kundu, KSBS

2 Promoter nucleic acid molecules derived from Gordonia and uses thereof Dr P Srivastava, DBEB

3 Single stage battery-less multi-functional grid interfaced solar energy conversion system and method thereof Prof B Singh, EE

4 An apparatus for collecting waste debris N Kant, ME

5 On chip immunocapture and fluorescent detection of rare cells in large sample volume Dr R Elangovan, DBEB

6 Free space optical cooperative communication system with multiple gain combiner method Prof V Chandra, EE

7 Impairment aware power economic methods and system for optical WDM Prof V Chandra, EE

8 Process for extraction of turmeric oil and cur cumin from turmeric rhyzomes Prof SN Naik, CRDT

9 Decoupled control of voltage and frequency of two winding single phase SEIG along with enhanced power generation in micro hydel applications Prof B Singh, EE

10 Noise reduction in CMOS Image sensor using non-correlated noise sampling Dr M Sarkar, EE

11 Wireless sheath for secure wireless communications and method thereof Prof R Bose, EE

12 Knot secure suture from Polyethylene Prof B Gupta, TT

13 Porous polymer, process of preparation and use thereof Prof AN Bhaskarwar, ChemE

14 A system and method for building a classifier with half the VC Dimension of a given one based on knowledge of a support vectors Prof Jayadeva, EE

15 Novel and simplified film cooling holes Dr B Premachandran, ME

16 US patent application of for flicker noise reduction in CMOS image sensors Prof M Sarkar, EE

17 An innovative coiled flow inverted reactor for continuous refolding of denaured recombinant proteins Prof AS Rathore, ChemE

18 Dual functionalized redox sensitive biodegradable polymeric nanosystem for targeted drug delivery in cancer therapy Prof V Koul, CBME

19 Dual target redox sensitive biodegradable amphiphilic multiblock copymeric nanocarriers for cancer therapuetics Prof V Koul, CBME

20 Polyacrylonitrile based ultrafiltration membrane for removal of (a) arsenic and (b) chromium from potable water Prof GP Agarwal, DBEB

Appendix-I

Continued on next page

Annual Report

FITT 2014 - 15

19

S No Title PI/Dept

21 Sensorless brushless DC motor Drive with power factor correction Prof B Singh, EE

22 Continuous manufacturing method for porous polymeric sheet and film Prof N Bhatnagar, ME

23 Gas phase synthesis of metal carbon core shell nanoparticles having controlled metal core and shell thickness Prof BR Mehta, Phy

24 A novel automated equipment for measurement of electrical properties of electro-conductive fabrics Prof K Sen, TT

25 A novel energy harvesting solution for reinforced concrete structures Dr S Bhalla, CE

26 Biodiesel with modified lipases Prof MN Gupa, DBEB

27 Catalytic conversion of Biomass derived 2-pyrones to produce fuel and chemicals Dr MA Haider, ChemE

IP Licenses Executed during the Financial Year 2014-15

S No Title PI Dept/ Centre Client

1 A small chaperone Dr B Kundu KSBS Theramyt Novobiologics Pvt Ltd, Bangalore

2 Thermal NDE: Modeling framework for crack detection Prof S Tuli CARE GE India Technology Centre Pvt Ltd,

Bangalore

3

A process of generating magnetically controlled ball and smart abrasive laden shape for finishing 3D intricate shaped surface

Dr S Jha ME Innovative Mechatronix Systems Pvt Ltd, New Delhi

4 Odour Prevention device Dr V M Chariar CRDT Ekam Eco Solutions Pvt Ltd,

New Delhi

5 Concrete Vibration Sensor Technology Dr S Bhalla CE Central Electronics Ltd, Delhi

Appendix-II

Continued from previous page

Annual Report

FITT 2014 - 15

20

Select Development Projects Undertaken during the Financial Year 2014-15

Appendix-III

S No Title PI Dept/Centre

1 Development of data analytics technology for mobile marketing Prof S Chaudhury EE

2Development of simulation on model for mini power plant cycles and turbine systems for solar / geo-thermal applications, using ammonia water mixture and other organic fluids

Prof PMV Subbarao ME

3 Development of E-scan array antenna system Dr A Basu CARE

4 A personalization and recommendation system using ambient intelligence Dr S Agarwal EE

5 Vibration reduction in an automotive horn Dr SV Modak ME

6 Optimization and growth of pyrolectric thin film stack Prof BR Mehta Phy

7 Design, engineering, supervision, calibration and commissioning of a twin – cooling test cell facility Prof SR Kale ME

8 Low Carbon Cement – Phase-I Dr S Bishnoi CE

9 Methodology development for climate change impact assessment and adaptation Prof AK Gosain CE

10 Image processing and vision application for foot scanner Dr B Lall EE

11 Development of a highly efficient and economical process for therapeutic antibody fragment Prof AS Rathore ChemE

12 Computation of heat transfer co-efficient over internal surfaces of control cum stop valves of HP and IP turbines

Dr B Premachandran ME

13 Optimization of chromatography process steps for purification of monoclonal antibody based therapeutics Prof AS Rathore ChemE

14 Aggregation of monoclonal antibody therapeutics – effects of processing and storage Prof AS Rathore ChemE

15 Three phase induction motor for fan running on single phase AC mains: Phase-I – Demonstration of Concept Prof S Mukherjee ME

16 Up-gradation of existing LT distribution system in SDN hospital under Shahdara (North) zone Prof S Mishra EE

17 Development of an algorithm for maximisation of TEUs loaded on double stack trains Dr NB Bolia ME

18Setting-up of Integrated Security and Surveillance System (IS3) along with operation and maintenance of the same for three years in Noida on a pilot basis

Prof S Banerjee CSE

19 Compression algorithm solution – Performance optimization Prof S Chaudhury EE


Annual Report

FITT 2014 - 15

21

S No Title PI Dept/Centre

20 On-line Devanagari handwritten character recognition on a smartphone through touch interface Prof S Chaudhury EE

21 In-depth serious accident data–collection and analysis: Pilot project on Gurgaon–Jaipur stretch on NH-8

Prof A Chawla & Prof S Mukherjee ME

22 Scientific study of performance of improved biomass cookstoves under actual use conditions, and develop a manual for the same Prof VK Vijay CRDT

23 Study of Community Design for Traffic Safety in India (Phase-III) Prof D Mohan TRIPP

24 Development of a software for climate smart agricultural prioritisation Dr NB Bolia ME

25 Design and development of electromagnetic exciter for active vibration control of rotating shaft Prof SP Singh ME

26 Portable embedded milk analyser Dr SMK Rahman CBME

27

Process development of separation of salts from brine sludge (semi solid) waste generated during brine purification in Chlor Alkali plant and development of suitable process to mix the sludge after salt separation with fly ash etc. to find its possibility of usage in cement

Dr SK Pattanayek ChemE

28 Polypropylene foaming and recyclability Prof AK Ghosh CPSE

29 Mathematical Modeling Engine (MME) for project on simulation of the reheating furnace Dr P Talukdar ME

30 Multimedia on configurable arrays Prof A Kumar CSE

31 Super Resolution Video Prof S Chaudhury EE

32 Embedded and multicore architectures for multimedia Prof S Chaudhury EE

33 Reducing the temperature rise of electric motor bearing without the use of forced convention Prof H Hirani ME

34 Prepolymer development and evaluation Dr J Jacob CPSE

35 Development of physical prototypes UPSK Kit in alternative designs Dr J Kumar IDDC

36 Planning and design of Rohini heliport for M/s Pawan Hans Prof AK Keshari CE

37 EEG signal based recognition module with low computational load Prof Jyadeva EE

38 Algorithmic framework for MEMS sensor fusion applications (Phase-I) Prof A Kumar CARE

39 Development of Aqua-System® based processes to treat different water feeds to achieve output of specified quality Prof R Khanna ChemE

40 Modern chemical systems for the construction industry Dr S Bishnoi CE


Annual Report

FITT 2014 - 15

22


S No Title PI Dept Client

1 Optimization and growth of pyrolectric thin film stack Prof BR Mehta Phy Ultrasolar Technology, Inc, USA

2

Optimization of chromatography process steps for purification of monoclonal antibody based therapeutics

Prof AS Rathore ChemE Purolite Limited, UK

3On-line Devanagari handwritten character recognition on a smartphone through touch interface

Prof S Chaudhury EE Qualcomm Inc, USA

4 Polypropylene foaming and recyclability Prof AK Ghosh CPSE Borealis AG, Australia

5 Advice for development of long term monitoring Prof R Bahl CARE

Asada Lab, Underwater Technology Research Centre, IIS, University of

Tokyo, Japan

6 EEG Signal based recognition module with low computational load Prof Jyadeva EE SAFRAN, France

7 Algorithmic framework for MEMS sensor fusion applications (Phase-I) Prof A Kumar CARE ST Microelectronics, USA

Select Investigative Projects Involving Foreign Contribution during the Financial Year 2014-15

AM: Department of Applied Mechanics,BSTTM: Bharti School of Telecommunication Technology and Management,CARE: Centre for Applied Research in Electronics,CAS: Centre for Atmospheric Sciences,CBME: Centre for Biomedical Engineering,CES: Centre for Energy Studies,CRDT: Centre for Rural Development and Technology,CPSE: Centre for Polymer Science and Engineering,CE: Department of Civil Engineering,ChemE: Department of Chemical Engineering,Chy: Department of Chemistry,

CSE: Department of Computer Science and Engineering,DBEB: Department of Biochemical Engineering and Biotechnology,DMS: Department of Management Studies,EE: Department of Electrical Engineering,HUSS: Department of Humanities and Social Sciences,IDDC: Instrument Design Development Centre,ITMMEC: Industrial Tribology,KSBS: Kusuma School of Biological Sciences,ME: Department of Mechanical Engineering,Phy: Department of Physics,TT: Department of Textile Technology

Abbreviations:

Annual Report

FITT 2014 - 15

23

Appendix-IV

Corporate Members

Some of our corporate members include:

y Academy of Industrial Management

y Alchem International Ltd

y Altacit Global

y Allied Industries Ltd

y Anergy Instruments Pvt Ltd

y Anindus Consultants Pvt Ltd

y Applied Research International

y Ashi International

y Atul Engineering Udyog

y Auto Ignition Ltd

y Bharat Petroleum Corporation

y Biocraft Healthcare Pvt Ltd

y Bonanza Consultants

y BSES Rajhdani Power Ltd

y C&S Electric Ltd

y C3i Consultants India Pvt Ltd

y Cosmos Advanced Diagnostics

y Dabur India Ltd

y De core Technology Pvt Limited

y Edge Motion Controls Pvt Ltd

y Faros Simulation Systems

y Geomet Environ Solution Pvt Ltd

y Globus Nexgen Tradex Pvt Ltd

y Grand Prix Engineering Pvt Ltd

y HPL Additives Ltd

y I2 India Pvt Ltd

y Ingersoll Rand International (India) Ltd

y Indore Color Organics

y InfoSemi technologies Pvt Ltd

y Intex Technologies India Ltd

y InTrans Engineering Ltd

y Jindal Gas Appliances Pvt Ltd

y JLJ Financial & Management

y Jubilant Generics Limited

y Kritikal Solutions Pvt Ltd

y Lakshmikumaran & Sridharan

y LG Soft India Pvt Ltd

y Mahalwale Enterprises

y Manage Air Products Pvt Ltd

y Maruti Suzuki India Ltd

y Mbit Computraining Pvt Ltd

y Mechartes Researchers Pvt Ltd

y Minda Corporation Ltd

y Munjal Showa Ltd

y Naga Fragrance

y Nagarjuna Fertilizers and Chemicals Ltd

y National Research Development Corporation

y Napino Auto and Electronics Ltd

y NEDO

y NEERI (CSIR)

y New Life Pharmaceuticals

y Ornate Solar Continued on next page

Annual Report

FITT 2014 - 15

24

y Pidilite Industries Ltd

y Prayag Polytech Pvt Ltd

y Pluss Polymers Pvt Ltd

y Rama Motors

y RICO Auto Industries Ltd

y Rohm Semiconductor India Pvt Ltd

y Samsung Research Institute

y Scan Projects Ltd

y Security Printing and Minting Corporation of India Ltd

y Shubhkarma Udyog

y Sona Koyo Steering

y Sifter International

y SP Singla Constructions

y SRF Ltd

y Sri Saravana Fabs

y Sun Pharmaceutical Industries Ltd

y Tata Power - DDL

y Trident Limited

y UOP India Pvt Ltd

y Vardaman Textile

y Vidyut Yantra Udyog

y Victor Forgings

y Wonder Polymers Pvt Ltd


25

Annual Report

FITT 2014 - 15

Annual Accounts

Annual Report

FITT 2014 - 15

26

SANDEEP RAMESH GUPTA & CO.C H A R T E R E D A C C O U N T A N T S

B - 102, East of Kailash 90/31B, Malviya NagarNew Delhi – 110 065 New Delhi - 110 017Phone: (91-11) 4162 2936 Phone: (91-11) 40404500

e-mail: [email protected]

FORM 10BAudit report under Section 12A(b) of the Income Tax Act in the case of charitable or religious trust or

institutions

We have examined the annexed Balance Sheet of M/s Foundation For Innovation and Technology Transfer as at March 31, 2015 and the Income and Expenditure Account for the year ending on that date which is in agreement with books of account maintained by the said institution.

We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of audit. In our opinion, proper books of accounts have been kept by the head office and branches of the above named institutions visited by us so far as appear from our examinations of the books and proper returns adequate for the purposes of our audit have been received from branches not visited by us, subject to comments given below:

In our opinion and to the best of our information and according to the explanations given to us the said accounts give a true and fair view:

a) In the case of the Balance Sheet of the state of affair of the above named institution as at 31/03/2015b) In the case of the profit and loss account, of the profit or loss of its accounting year ending on 31/03/2015.

The prescribed particulars are annexed hereto.

For Sandeep Ramesh Gupta & Co.Chartered Accountants

Sd/-CA Sandeep GuptaMembership No.: 090039FRN: 011984N

Place: New DelhiDate: September 8, 2015

Annual Report

FITT 2014 - 15

27

In Rs.

Particulars Schedule No 31.03.2015 31.03.2014

Source of Funds

1 Corpus Funds Seed Money 16,200,000 16,200,000

2 Reserves and Surplus 1 157,492,338 132,924,328

3 Research and Development Fund 2 52,846,066 49,166,924

4 Other Fund 3 23,127,044 33,901,939

249,665,449 232,193,191

Application of Funds

1 Fixed Assets 4

(A) Gross Block 10,886,657 12,013,971

(B) Less: Depreciation 1,201,051 1,283,264

(C) Net Block 9,685,606 10,730,707

2 Investments 5 360,350,000 340,350,000

3 Current Assets Loan & Advances 6 123,173,456 43,333,158

Less: Current Liabilities 7 243,543,613 162,220,674

Net Current Assets (120,370,157) (118,887,516)

249,665,449 232,193,191

Foundation for Innovation and Technology TransferBalance Sheet as at March 31, 2015

Notes to the financial statements 14

The schedule referred to above form an integral part of the accounts

As per our attached report of even date

Sandeep Ramesh Gupta & Co. For Foundation for Innovation and Technology TransferChartered Accountants FRN:011984N

Sd/- Sd/- Sd/-Sandeep Gupta K K Roy Anil Wali (Chief Operating Officer) (Managing Director)M. No. 090039Place: New DelhiDate: 08.09.2015

Annual Report

FITT 2014 - 15

28

Notes to the financial statements 14

The schedule referred to above form an integral part of the accounts


Sandeep Ramesh Gupta & Co. For Foundation for Innovation and Technology TransferChartered Accountants FRN:011984N


Foundation for Innovation and Technology TransferIncome and Expenditure Account for the year ended 31st March, 2015

In Rs.

Particulars Schedule No 31.03.2015 31.03.2014

Income

Technology Development / Projects 8 135,585,096 135,114,013

Other Income 9 34,790,257 28,919,372

170,375,353 164,033,386

Expenditure

Technology Development / Projects 10 127,339,702 126,351,395

Research & Technology Support 11 550,008 919,021

Establishment Expenses 12 13,356,627 11,356,956

Patent & Copyright 2,133 4,885

Information Support Services 127,559 260,019

Award/Scholarship 60,000 2,000

Depreciation 4 1,201,051 1,283,264

Administrative Expenses 13 3,170,263 2,717,096

145,807,343 142,894,637

Excess of Income Over Expenditure 24,568,010 21,138,749

Annual Report

FITT 2014 - 15

29

In Rs.

Particulars 31.03.2015 31.03.2014

1 Reserves & Surplus

Capital Reserve 2,555,812 2,555,812

General Reserve 130,368,516 109,229,767

Excess of Income Over Expenditure 24,568,010 21,138,749

157,492,338 132,924,328

2 Research & Development Funds

2 (i) FITT Project Promotion Fund

Opening Balance 13,261,036 12,298,340

Add: Additions during the Year - 1,022,696

13,261,036 13,321,036

Less: Utilised during the Year - 13,261,036 60,000 13,261,036

2 (ii) FITT Consultant Fund

Opening Balance 16,791,200 15,220,539

Add: Additions during the Year 3,694,807 3,480,971

20,486,008 18,701,510

Less: Utilised during the Year 1,726,911 18,759,097 1,910,310 16,791,200

2 (iii) FITT Department Development Fund

Opening Balance 17,557,950 13,190,262


21,297,527 19,259,886

Less: Utilised during the Year 2,554,333 18,743,194 1,701,936 17,557,950

2 (iv) Central Administrative Fund

Opening Balance 37,950 37,950

Add: Additions during the Year 589,768 925,677

627,718 963,627

Less: Utilised during the Year 574,209 53,509 925,677 37,950

2 (v) IIT Student Welfare Fund


Add: Additions during the Year - -

94,000 94,000

Less: Utilised during the Year 94,000 94,000


Annual Report

FITT 2014 - 15

30

In Rs.

Particulars 31.03.2015 31.03.2014

2 (vi) FITT Administrative Fund

Opening Balance 1,346,089 1,132,999


2,028,985 1,346,089

Less: Utilised during the Year 242,453 1,786,532 - 1,346,089

2 (vii) FITT Staff Welfare Fund

Opening Balance 78,699 -


148,699 78,699

Less: Utilised during the Year - 148,699 - 78,699

2 (viii) TBIU - Synergy - Security Deposit

Opening Balance - 110,000

Add: Additions during the Year - 20,000

- 130,000

Less: Utilised during the Year - - 130000 -

52,846,066 49,166,924

3 Other Fund

3 (i) TBIU - TIDE Fund



5,041,242 6,842,972

Less: Utilised during the Year 6,109 5,035,133 5,817,400 1,025,572

3 (ii) TIDE - Fund (Interest on SEED Loan)



794,860 505,029

Less: Utilised during the Year 5,000 789,860 - 505,029

3 (iii) TBIU - MCIT Fund



1,401,012 1,281,669

Less: Utilised during the Year 14,446 1,386,566 - 1,281,669



Annual Report

FITT 2014 - 15

31

In Rs.

Particulars 31.03.2015 31.03.2014

3 (iv) TBIU - Fund (Interest on SEED Loan)



359,713 333,680


3 (v) TBIU - Fund (3% Royalty)



1,606,252 1,606,252

Less: Utilised during the Year - 1,606,252 - 1,606,252

3 (vi) TBIU - Fund (Maintenance Charges)


Add: Additions during the Year 20,250 -

6,60,623 640,373


3 (vii) TBIU - Fund (Loan Account) 17,371


Add: Additions during the Year - -

2,677,288 2,677,288

Less: Utilised during the Year - 2,677,288 - 2,677,288

3 (viii) TBIU - Fund (Shares Buy-Back/Deferred Loan)



4,545,807 4,545,807

Less: Utilised during the Year - 4,545,807 4,545,807

3 (ix) TDB - Fund


Add: Additions during the Year 235,122 2,937,471

1,567,301 6,032,179

Less: Utilised during the Year 1,301,686 265,615 4,700,000 1,332,179



Annual Report

FITT 2014 - 15

32

In Rs.

Particulars 31.03.2015 31.03.2014

3 (x) BIG-FITT



33,422,486 15,672,820

Less: Utilised during the Year 32,941,256 481,230 11,609,577 4,063,243

3 (xi) BBIF-FITT

Opening Balance 15,561,481 15,100,000


16,103,877 15,561,481

Less: Utilised during the Year 11,391,709 4,712,168 15,561,481

3 (xii) TDB-Loan Interest



641,394 316,634

Less: Utilised during the Year - 641,394 - 316,634

3 (xiii) TBIU Synergy Cleaning

Opening Balance 9,482


- 29,232

Less: Utilised during the Year 12,732 12,732 16,500 12,732

- 23,127,044 33,901,939



Annual Report

FITT 2014 - 15

33

4. D

epre

ciat

ion

Sche

dule

of F

ixed

Ass

ets

Bloc

k of

Ass

ets

as p

er t

he In

com

e Ta

x A

ct, 1

961

S N

oPa

rtic

ular

sRa

te

Gro

ss B

lock

Net

Blo

ck

WD

V as

on

01-0

4-20

14

Del

etio

n of

A

sset

s

Add

itio

nof

Ass

ets

> 18

0 D

ays

Add

itio

nof

Ass

ets

< 18

0 D

ays

Tota

l A

s on

31-0

3-20

15

Dur

ing

the

Year

2014

-15

WD

Vas

on

31-0

3-20

15

1Co

mpu

ters

60%

52,

364

-13

7,75

0-

190

,114

11

4,06

8 76

,046

2Fu

rnitu

re &

Fi

xtur

es10

% 2

36,2

29

--

14,

000

250

,229

2

4,32

3 2

25,9

06

3Ai

r Con

ditio

ners

15%

128

,756

3,

500

3,00

0-

128

,256

1

9,23

8 1

09,0

18

4Ph

otoc

opie

r15

% 8

3,16

5 -

--

83,

165

12,

475

70,

690

5Pr

ojec

tor

15%

173

-

--

173

2

6 1

47

6O

ffice

Eq

uipm

ents

15%

144

,287

-

4,70

0-

148

,987

2

2,34

8 1

26,6

39

7FI

TT E

xtn.

Offi

ce10

% 7

3,41

3 -

--

73,

413

7,3

41

66,

072

8TB

IU O

ffice

M

odul

e10

% 1

96,1

87

--

- 1

96,1

87

19,

619

176

,568

9TB

IU -

Syne

rgy

Bldg

10%

9,8

16,1

34-

--

9,81

6,13

4 9

81,6

13 8

,834

,521

Tota

l10

,730

,707

3,50

0 1

45,4

50

14,

000

10,8

86,6

571,

201,

051

9,68

5,60

6

Cont

inue

d fr

om p

revi

ous

page

Cont

inue

d on

nex

t pag

e

Annual Report

FITT 2014 - 15

34



In Rs.

Particulars 31.03.2015 31.03.2014

5 Investments

Deposits with Scheduled Bank 360,350,000 340,350,000

360,350,000 340,350,000

6 Current Assets, Loans and Advances

Balance with Scheduled Bank

Canara Bank 10,897,213 620,666

SBI -1968 56,190,507 9,231,190

SBI FCRA Account 35,796,322 30,021

SBI - DBT-1376 267,301 1,332,179

SBI-BIGS 506,492 4,060,243

SBI SWAT 269,876 249,484

HDFC Bank 275,286 3,736,641

SBI BBIF-1330903 4,762,123 15,561,481

108,965,121 34,821,906

Tax Deducted at Source (Refundable) 13,332,735 7,995,307

Development Support 252,670 223,141

Security Deposit 4,087 4,087

Staff Advance 575,864 288,717

Service Tax Input Under Reverse Charge Not Due 42,979

123,173,456 43,333,158

7 Current Liabilities

7 (i) Project Account

7 (ia) Opening Balance Ongoing Projects 132,825,190 129,013,716

Add: Transferred From Hold Projects 5,149,852 0

Add: Receipts During The Year 173,055,351 144,979,710

311,030,393 273,993,426

Less: Utilised during the Year 127,339,702 126,351,395

Annual Report

FITT 2014 - 15

35



In Rs.

Particulars 31.03.2015 31.03.2014

Less: Transferred to Income & Expenditure A/C 8,245,394 8,772,893

Less: Transferred to Hold Project 19,500,303 6,043,948

Closing Balance Ongoing Projects 155,944,993 132,825,190

7 (ib) Opening Balance Project Advance -6,804,115 -3,073,781

Add: Increase in Project Advance -7,149,113 -12,009,096

-13,953,228 -15,082,877

Less: Decrease in Project Advance 9,994,890 8,278,762

Closing Balance of Projects on Hold -3,958,338 -6,804,115

7 (ic) Opening Balance of Projects on Hold 31,354,699 25,310,751

Add: Increase in Projects on Hold 19,500,303 6,043,948

50,855,002 31,354,699

Less: Decrease in Projects on Hold 5,149,852 -

Closing Balance of Projects on Hold 45,705,150 31,354,699

197,691,806 157,375,774

7 (ii) Other Current Liabilities

Opening Balance Other Current Liabilities 4,844,900 7,927,960

Add: Increase in Other Current Liabilities 138,459,579 84,872,725

143,304,479 92,800,685

Less: Decrease in Other Current Liabilities 97,452,672 87,955,784

Closing Balance Other Current Liabilities 45,851,807 4,844,900

Total [7 (ia) + 7 (ib) + 7 (ic) + 7 (ii)] 243,543,613 162,220,674

8 Technology Development/Projects

8 (i) Projects and Development Funds 127,339,702 126,351,395

127,339,702 126,351,395

8 (ii) Income from Technology & Development/Projects

FITT Overhead Charges from Projects 6,026,661 6,170,023

Seminar/Workshops/HRD Prog 1,637,676 2,014,138

Royalty Income 581,057 578,457

8,245,394 8,762,618

Total [8 (i) + 8 (ii)] 135,585,096 135,114,013

Annual Report

FITT 2014 - 15

36

In Rs.

Particulars 31.03.2015 31.03.2014

9 Other Income

Corporate Membership Fee 204,064 230,387

Interest on Banks Deposits/Bonds 32,288,174 26,425,739

Interest on Savings Account 2,298,019 1,695,189

Interest on TDS Refund - 562,902

Excess Provision Written Back - 5,155

34,790,257 28,919,372

10 Technology Development/Projects

Project Research & Development Expense 118,562,654 114,671,219

Transferred to Project & Development at Source 8,777,048 11,680,176

127,339,702 126,351,395

11 Research & Technology Expenses

Development Support - 20,000

TBIU Account 550,008 899,021

550,008 919,021

12 Establishment Expenses

Ex- Gratia 33,000 20,724

Children’s Education Allowance 73,200 144,444

Employee Provident Fund Expenses 970,755 788,686

Honorarium/OTA 47,000 134,821

House Lease Rent 570,000 405,714

Leave Travel Compensation 1,968 83,965

Medical Expenses 284,327 253,602

Medical Insurance 104,249 87,135

Pay & Allowances 11,272,128 9,437,865

13,356,627 11,356,956



Annual Report

FITT 2014 - 15

37

In Rs.

Particulars 31.03.2015 31.03.2014

13 Administrative Expenses

Audit Fees 49,500 45,000

Bank Charges 37,593 38,451

Books & Periodicals 1,984 1,480

Communication Expense 100,839 118,306

Contingent Expenses 87,742 126,282

Conveyance Expense 258,647 279,583

Electricity Charges 323,332 317,826

Membership & Subscription - 13,000

Printing & Stationery 39,190 112,061

Professional Fees 527,072 643,048

Recruitment Expenses 108,971 75,020

Rent Expense 554,908 732,642

Repair & Maintenance 46,451 101,083

Seminar & Meeting Expenses 57,607 6,631

Service Tax Expenses 461,501 45,230

Travelling Expenses 3,543 61,453

Interest On Service Tax 21,584 -

TDS-Interest (Penalty) 487,539 -

Miscellanous Expense 2,260 -

3,170,263 2,717,096

14. Notes to the Financial Statements1. Significant Accounting Policies

i. Accounting Convention

The Financial Statements of Society has been prepared under the Historical Cost Conventional methods. Society has been maintained accounts under cash system rather than accrual basis but some statutory accounts has been maintained under accrual basis.

ii. Fixed Assets and Depreciation

Fixed assets are valued at cost and Depreciation on fixed assets is provided on Written Down Value method in accordance with the rates and provisions of the Income Tax, 1961.



Annual Report

FITT 2014 - 15

38

iii. Revenue Recognition

Change in Revenue Recognition of Project funds

During the year, the Society recognises applied fund towards expense and transfer to its development funds and project as income of Society.

Income from Research Projects, Seminars, Consultation, etc. recognised on rendering of the service and receipt of the costs, FITT services charges, Overheads, Royalty income which are transferred from various project funds has been treated as income of trust.

Interest income on deposit is accounted on receipt basis consistently.

iv. Investments

1. Investments are valued at cost.

2 Equipment purchased for the project are deployed for industrial projects and kept at the laboratories at IIT(D). On the conclusion of the project as per FITT’s “ Guidelines for handling consultancy proposals”.

3. Service Tax has been paid to the credit of Government as per invoice raised by FITT.

4. Previous year’s figures have been regrouped/reclassified wherever considered necessary to make them comparable with those of the current year.


Sandeep Ramesh Gupta & Co. For Foundation for Innovation and Technology TransferChartered Accountants



Glimpses of OurInteractions

Annual Report

FITT 2014 - 15

40

Bringing industry and academia together -...

Documents

Transcript of Bringing industry and academia together -...