The Government of India has given the Indian Institute of Technology Madras (IIT Madras) the "National Intellectual Property Awards 2021 and 2022" for being the best academic institution in India for patent filing, grants, and commercialization.

Union minister of commerce and industry Piyush Goyal presented the award to IIT Madras director V Kamakoti at a function held in New Delhi on October 15, 2022. “The award included a trophy, citation and a cash prize of Rs 1 lakh. The award is given out by the Department for Promotion of Industry and Internal Trade, ministry of commerce and industry. The main criteria of evaluation for these awards are patent applications, grants and commercialization,” IIT Madras said.

Congratulating the institute faculty, researchers, students and other stakeholders, IIT Madras director V Kamakoti said, “For any country to become a world leader, protecting intellectual property is vital. This award has certainly motivated IIT Madras to generate and protect more and more intellectual property of societal impact leading to Atmanirbhar products during the Amrit Kal.”

These awards are conferred annually to recognize and reward the top achievers comprising individuals, institutions, organizations and enterprises, for their Intellectual Property (IP) creations and commercialisation, which have contributed towards strengthening the IP ecosystem in the country and in encouraging creativity and innovation.