Second program about interest today is the India Innovation Growth Program supported by Department of Science and Technology and Lockheed Martin Corporation. It is under the successful BPP model of collaboration between our countries. Our 200 business engagements agreements have already been entered involving both India and U.S. enterprises. Products of some technologies have entered global marketplace as well as impact analysis report prepared by FICCI reveals that committed revenue generated by the innovators there in 2007 and ’10 amount to more than 70 U.S. million dollars.
The third major program of value showcased today is U.S.-India Endowment Fund established by two governments in 2009. The creation of this fund is another landmark in our belief to work together in the space of technology commercialization. I’m certain that our joint effort through this fund would foster commercialization of technology leading to societal impact. The program funded by DST and U.S. State Department have started to roll out project grants. We have witnessed today the first batch of such investment in the broad priority areas covering health issues and empowering citizens.
The fourth flagship is the Indo-U.S. Joint Clean Energy Research and Development Center. This is a bilateral initiative of my Ministry of Science and Technology with the U.S. Department of Energy. We have committed 25 million U.S. dollar from such – from each side. The joint center will support multi-institutional network project using consortia, partnerships based on public-private model of funding. We are focused on the areas of mutual interests covering solar energy, second generation bio-fuel, and energy efficient buildings. We assure you, Madam Secretary, that we are working to announce the exciting set of first awards in this – in the near future.
Finally, among the focus of innovation initiative, our USAID Millennium Alliance offering a new platform. Under this platform we expect to leverage creativity of the both nations an ability of U.S. to maximize quality Indian strength in optimizing resources. Together, we could develop competitive, affordable innovation. USAID has already contributed $7.7 million U.S. to this initiative. Today I’m happy to announce other contribution of U.S. $5 million to this fund. (Applause.)
FICCI hopes to scale up this fund to 50 million U.S. dollar over the next 12 months. This Millennium Alliance is a newer expression of our mutual commitment to engage another gainful partnership. Undoubtedly, our bilateral relationship today is a true partnership that uses a soft progress of science and technology and innovation for the benefit of people, the priority in both our countries. When the most powerful, large economies of the world join and develop their innovation agenda, it is bound to deliver values of global good. The world would want us to work together.
Let me end with assurance of my government’s fullest commitment and support to this bilateral endeavor and invite you, Madam Secretary, for your valuable thoughts and impressions. Thank you very much. (Applause.)
SECRETARY CLINTON: Minister, that was wonderful. Thank you so much. Well, good morning,
