IRC Launch Meeting
The NAVIN Consortium team will go through formal brainstorming and project down-selection processes...
The vision is to increase economic benefits to its members (profits, grants, jobs, etc.) through the development and use of new and innovative micro- and nano-technologies. Therefore, the IRC projects(s) must stand alone on their merits and benefits to all partners, with “offsets” as added benefit”.
The “Offset Enabled Innovation Acceleration” model would see member companies making investments in IRC projects. Those companies that have offset obligations would be able to apply their investments towards the satisfaction of these obligations. Only that part of the investment that was spent in India would qualify, according to the GOI policies. If the company with the offset investment were to be large and have several divisions, the investments from the other divisions would qualify equally for an offset credit. Large companies may choose to set up an investment fund internally for NAVIN Consortium to encourage their divisions to contribute to IRC projects, thereby leveraging the offset investment funds available.