Lockheed Martin to invite innovation ideas from start-ups

Kochi: US war aircraft manufacturer Lockheed Martin will soon invite innovation ideas through its annual scheme meant for start-ups and university students to take forward their ideas and enable them enter the market.

"Applications for this programme, launched in 2007, will be received from March 21. It looks for start-ups and university students, who have got innovation, and they may be allowed to take their ideas to the next stage, enabling them to enter the market," Lockheed Martin India chief executive Phil Shaw was quoted as saying in a release in Kochi.

Every year, the company has been getting around 1,500



applications for "India Innovation Growth Programme", Shaw said while addressing the audience at the Kerala's first ever national level hardware start-up conclave conducted by Maker Village in Kochi on Saturday.

"People need exposure, investors or venture capitalists. The programme is set up to identify the innovation that is taking place in India. From the ideas, an expert panel will select the best 10 and they will be going to the United States each year to be exposed to the innovation ecosystem in the US," Shaw said.

Lockheed Martin is an American global aerospace, defence, security and advanced technologies company.