InnoCentive, an online forum that enables scientists and science-based companies to collaborate to achieve innovative solutions to complex scientific challenges, has signed a pact with the Hyderabad-based Indian Institute of Chemical Technology (IICT) this week.

"InnoCentive recognizes the importance of partnership with leading scientific research institutions to foster scientific innovation. The tie up with IICT, coupled with already entered partnership with NCL, Pune, will enable us to tap into the vast scientific talent pool in India," said Ali Hussein, vice president-Marketing, InnoCentive.

"Cooperating with InnoCentive will provide IICT scientists and researchers an ideal platform to work on complex scientific problems posted by leading global corporations. It will also help them to gain financial rewards and even greater international recognition," said, Dr JS Yadav, director of IICT.

Ali Hussein told reporters, InnoCentive has so far established collaborations with about 30 institutions in Russia and 12 in China. The solvers of these scientific challenges ranged between undergraduates and post doctorals. So far about 50 scientific challenges have been solved.

InnoCentive ensures confidentiality of both the solution seekers and providers. Reward for paper-based-solutions (where lab activity is not involved) will be in the tune of $ 25,000-30,000, whereas complex problems solved in lab will reward a solution provider up to $ 1,00,000.

InnoCentive, an e-business company, was launched during 2001 by Eli Lilly and Company. The company is actively seeking institutional and venture partners to expand its operations, Hussein added.

InnoCentive allows companies in the pharmaceutical, biotechnology and other fields to access the untapped pool of scientific talent multiplying their traditional research and development capabilities with an efficient, secure, cost effective solution. It connects companies with chemical, biological and other scientific problems to top scientists around the world. The companies seeking solutions get additional problem-solving resources, faster results and innovative solutions to tough research problems.