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Winners for the 1st Intellectual Property Talent Search Examination (IPTSE) announced

New Delhi: Ericsson (NASDAQ: ERIC) together with The Associated Chambers of Commerce of India (ASSOCHAM) today celebrated young Indian talent at Intellectual Property Talent Search Examination (IPTSE) Awards 2019, identifying and rewarding students who took part in the country’s first ever examination on intellectual property rights. Shri Suresh Prabhu, India's Sherpa to G20, Ms. Monica Magnusson, VP, IPR Policy, Ericsson and Shri Balkrishan Goenka, President, ASSOCHAM, handed out the awards to the winners of the first edition of the examination. The IPTSE 2019, held with the objective of creating awareness on Intellectual Property amongst Indian youth, drew participation from over 5000 students. School students from classes IX to XII as well as under graduate students from colleges participated in the first edition of IPTSE.

Suresh Prabhu, Member of Parliament and India's Sherpa to G20 said, “The preservation of a strong patent regime will protect ideas and support more innovation, by helping bring more ideas to fruition. Through a robust IPR regime, great ideas can be successfully commercialized to help our society and the world. In this context, it is heartening to see the passion exhibited by young students of our country as custodians of IP rights.” Commenting on the initiative, Ms. Monica Magnusson, VP, IPR Policy, Ericsson, said, “India has an immense talent pool, which will play a pivotal role in putting the country on the global innovation map. With the help of IP Talent Search Examination, we aim to recognize the innovators of tomorrow early and educate them about the importance of IPR across various businesses. IPTSE is just another way by which Ericsson contributes towards the objectives of Indian National IPR Policy.”

Balkrishan Goenka, President, ASSOCHAM said, "Knowledge & skill are the backbones of a growing economy. In the larger national interest, the fledgling young minds need to be exposed to knowledge of IPR. It is essential for building New India."The IPTSE is an annual examination designed for school and college students across streams targeting class IX to XII school students and under graduate students. More than 250 volunteers worked on-ground to educate various schools/institutions to encourage student participation in IPTSE 2019. While some studies shows that a balanced IPR regime can encourage economic growth and an innovation ecosystem, there is a growing need to drive awareness and mass sensitization of IP among the youth. The IPTSE is a first for India, and is a small but significant step towards encouraging young minds to appreciate the importance of IPR and consider it as a career.