Huge interest among global firms to collaborate with Indian Institute of Creative Technology: Vaishnaw at WAVES event

The Information and Broadcasting minister made these remarks after seven leading firms — JioStar, Google, Adobe, Meta, Apple, NVIDIA and Microsoft — exchanged Letters of Intent with the IICT on the sidelines of the World Audio Visual and Entertainment Summit (WAVES) here

Mumbai: Global firms are keen to work with the newly announced Indian Institute of Creative Technology (IICT) to harness the creative energies in the country’s youth, Union Minister Ashwini Vaishnaw said here on Saturday.

The Information and Broadcasting minister made these remarks after seven leading firms — JioStar, Google, Adobe, Meta, Apple, NVIDIA and Microsoft — exchanged Letters of Intent with the IICT on the sidelines of the World Audio Visual and Entertainment Summit (WAVES) here.

The Letters of Intent were exchanged in the presence of Vaishnaw, Union Minister of State for Information and Broadcasting L Murugan, and I&B Secretary Sanjay Jaju.

Vaishnaw said the institute is set to become a national hub for the animation, visual effects, gaming, comics, and extended reality (AVGC-XR) sector.

“Already seven firms — Nvidia, Google, Apple, Microsoft, Meta, Star India and Adobe — are collaborating with the IICT. The IICT will work closely with the industry to make our young creators future-ready,” he said.

Vaishnaw informed reporters that discussions with the World Intellectual Property Organisation (WIPO) were also on for a collaboration with IICT. He had a meeting with Daren Tang, the director general of WIPO, on the sidelines of WAVES here on Friday.

The IICT is being set up by the Ministry of Information and Broadcasting as a National Centre of Excellence on the lines of the prestigious IIT and IIM in strategic collaboration with trade body FICCI and industry body CII.

“India has the potential to take a global leadership role in the world of media and entertainment. This institute is the first step in that direction and we have to build on it,” Vaishnaw said.

The minister said there was a huge willingness among global firms to work with the IICT. Pointing out that India is home to 40 million creators according to industry estimates, he said, “This vibrant set of creators participated in large numbers in ‘Create In India’ challenges. More than 1,00,000 creators from 60 countries have participated in this first edition of WAVES.”

Vaishnaw noted that the world of creativity was undergoing a profound transformation with technology democratising the sector. “The way content is created is changing and the medium of consuming content is also changing.”

He said WAVES is meant to offer a platform for creators from around the world. “It will provide exposure to new technologies. WAVES will connect creators with investors, producers and buyers. This will create new economic opportunities,” the minister said.

The first phase of IICT is located at the NFDC Building on Pedder Road in Mumbai and features state-of-the-art facilities, including gaming labs, animation labs, edit and sound suites, virtual production setups, immersive studios, a preview theatre, and multiple smart classrooms.

Vaishnaw also said that Phase-II of the IICT will see the development of a dedicated 10-acre campus at the Film City in Goregaon, further expanding the capabilities and the reach of the institute.