Question : AGREEMENT FOR JOINT VENTURE



(a) whether India and the US Massachusetts Institute of Technology has signed an agreement for joint venture during the month of June 2001;

(b) if so, the salient features of the agreement; and

(c) the steps taken/proposed to be taken to implement the project?

Answer given by the minister

MINISTER OF PARLIAMENTARY AFFAIRS AND COMMUNICATIONS & INFORMATION TECHNOLOGY(SHRI PRAMOD MAHAJAN)

(a): Yes, Sir. An agreement was signed on 24th June, 2001 for setting up Media Lab Asia in India.

(b): The salient features of the Agreement are:

- To establish Media Lab Asia for the utilization of sophisticated information technologies in meeting the challenges of health, learning, enterprise etc.

- Media Lab Asia`s program has been conceived in two phases - a one-year pilot program and a subsequent nine-year `full-scope program` that may be taken up upon favorable evaluation of the one-year exploratory program and mutual agreement.

- Massachusetts Institute of Technology`s (MIT) Media Lab will assist the Government of India in focusing the research of the Media Lab Asia program on the objective of bringing the benefits of the most sophisticated emerging information technologies to the daily problems of the common man in India.

- Media Lab Asia shall be set up as a non-profit Indian organization.

- The Government of India would contribute an amount of Rs.65 crores for the exploratory program.

- Out of the above amount, US $ 1.7 million will be paid to MIT, as compensation for various program expenses (such as travel, communications, salaries, indirect costs, and fellowship expenditures).

- Ownership of Intellectual Property developed pursuant to the participation of Media Lab Asia organization and the MIT Media Lab under this Agreement will vest in accordance with the relevant policies of Media Lab Asia organization and MIT. What is developed jointly will be shared and each can exploit the same.

- MIT Media Lab will provide the Media Lab Asia organization with the benefit of its professional and technical expertise in preparing Media Lab Asia`s Intellectual Property Right (IPR) Policy.

- The parties agree that MIT`s Media Lab will not set up another organization that uses or includes the name `Media Lab Asia` and shall not set up another organisation in Asia with the same objectives without the consent of

- Government of India.

- The parties have the shared goal of communicating with transparency and accuracy to the public concerning Media Lab Asia.

_ In the event of any deadlock, dispute or differences, the rights and obligations of the parties shall be resolved by arbitration to be conducted in Delhi.

- The agreement shall be governed by the laws of Indian Republic.



(c): Media Lab Asia would be implemented by a non-profit organization . The process of setting up the non-profit organization is in progress and is expected to be completed by August 2001.