ITC`s innovation hub hits half-century; eyes more breakthroughs and accomplishments
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
ITC Life Sciences and Technology Centre, the R&D powerhouse of the conglomerate, has completed a milestone-filled 50 years. Located in Bengaluru, Life Sciences and Technology Centre (LSTC) has served as the innovation hub for ITC.
Highlighting the crucial role played by LSTC in the growth journey of ITC, Chairman Sanjiv Puri said, LSTC has the distinction of being the largest private sector innovation centre in the country and has continued to scale up to address the growing needs as ITC pursues its path of multiple drivers of growth.
Outlining the significance of research and innovation in a world driven by uncertainties and social inequity, he said: “It is innovation, research, application of science and technology that will help us find solutions to challenging situations that we have to face. It is science that can convert certain challenges into opportunities. Science and technology can open up new pathways for growth and sustainability.”
Emphasising that there is immense opportunity for innovation in all segments of business that ITC is present in, Puri said building the right ecosystem within and outside is extremely important for achieving success.
LSTC boasts of a stellar team with collective experience of over 4,000 years of R&D and innovation experience. LSTC has been ranked as a top innovator in India in the private sector with over 800 patent applications filed. Leveraging the innovative solutions developed by LSTC, ITC has launched over 300 products in the past three years.
Some of its unique innovations include the world’s smoothest chocolate, gel bar soaps and sustainable packaging solutions.
Highlighting the legacy of LSTC, Sandeep Kaul, Group Head, R&D, ITC Ltd, said: “LSTC symbolises the spirit of ITC's core values of innovation, excellence and consumer focus. Together we have created a legacy of excellence and I have no doubt that the next 50 years will be marked by even greater achievements as LSTC continuously marches on to actualise its vision of driving purposeful innovation.”
Luminaries like Prof. RA Mashelkar, Dr. Vibha Dhawan, Director General of The Energy Resources Institute, Prof Ganesh Bagler, Professor, IIIT Delhi and Prof. Seeram Ramakrishna, Everest Chair and Director for Centre for Nanotechnology and Sustainability, National University of Singapore, participated in the 50-year celebrations of the transformational journey of LSTC.
Mashelkar, one of India’s most illustrious and decorated scientists, highlighted the significance of disruptive innovation-led growth and how exponential value can be created through innovation.
