Nathan Myhrvold's Intellectual Ventures has signed a deal to license technology developed by students and faculty at the Indian Institute of Technology-Bombay, a deal that the university's director hopes will lead to the commercialization of "ground-breaking inventions," reports ExpressIndia.com.

Columnist Latha Jishnu offers her take, noting the challenges of commercializing cutting-edge technology in India as well as the "patent troll" label that often dogs Intellectual Ventures. She writes:

Why would a company of this kind be interested in India which is a notorious laggard in innovation? One explanation is that IV is intent on mopping up potentially-promising technologies that are being thrown up in the IITs and the public research institutions in India. Reports suggest that IV is also seeking an agreement with the Council for Scientific and Industrial Research, the vast network of the country’s public research institutes, which is sitting on some 3,000 patents.

Bellevue-based Intellectual Ventures has been adding to its patent portfolio in recent weeks, sealing a deal with Telcordia Technologies for more than 500 patents last month and acquiring 140 patents from Transmeta in January.

Intellectual Ventures has established strong connections in India in recent months, especially with the well-regarded IITs. Ashok Misra, who previously led the IIT-Bombay, joined Intellectual Ventures' Indian office last summer.