National Innovation Foundation ( NIF) has formed a joint venture with Pune-based EnSigns Life Sciences and Jayshree Foods to manufacture and market nutraceutical products globally.
An agreement was signed to this effect on Tuesday. Under the proposed collaboration, NIFwill provide the nutraceutical technologies for the development of products, Jayshree Foods will be responsible for the manufacturing of the same while Ensigns shall make investments for marketing, brand building, generating working capital support for business in India and abroad.
All the nutraceutical products will be sold under a new umbrella brand, which will be owned by the Flagship Company. The brand name will be used for retail and industrial products.
NIF, a registered society and an autonomous body of Department of Science and Technology, was set up with the mission to make India innovative and a global leader in sustainable technologies by building upon the genius of grassroots technological innovators and outstanding traditional knowledge holders.
Ensigns Life Sciences has been working in the area of preventive health care by marketing and promoting nutraceutical product, functional food ingredients and additives. It has been primarily involved in industrial sector for marketing functional food ingredients and additives. Ensigns has also undertaken work in the Middle East in the similar sector.
News Link: http://www.samachar.com/national-innovation-foundation-forms-joint-venture-to-produce-market-nutraceuticals-nhpvK0ecedf.html