The current world scenario of intellectual property rights (IPR) regarding life materials, including biotechnology and genetic resources, is characterized by increasing tensions between innovation and access. Countries are striving to balance the protection of inventions with the need for equitable access to life-saving technologies and resources.
In India, despite being the second-largest filer of patents, the low rate of commercialization can be attributed to several factors:
- Regulatory Hurdles: Complex regulatory processes and lengthy approval times hinder the swift commercialization of patented technologies.
- Market Dynamics: The focus of many patents is on niche markets, often resulting in limited commercial viability and investor interest.
- Lack of Infrastructure: Insufficient infrastructure for research and development, as well as weak links between academia and industry, impede the translation of patents into marketable products.
- Limited Funding: A lack of financial resources and support for startups further constrains the ability to commercialize innovations effectively.
These challenges collectively contribute to the gap between patent filings and successful commercialization in India.
