Connect product and process innovation: T Ramasami
At a conference on 'India as Innovation Hub', organised by FICCI, Dr T Ramasami said, what India offers to the world is the diversity in the innovation ecosystem through its ability to devise simple solutions at the grassroots levels at low costs.
EXHORTING THE scientific community to find ways of connecting grassroots innovation with innovations that make products globally competitive, Dr. T Ramasami, Secretary, Department of Science & Technology, on Thursday said that both need to support each other as one does not happen at the expense of the other. Dr. Ramasami spelt out three requirements that need to be borne in mind to attain maturity in innovation. These are the awareness of the risk involved in innovation, the need for quality appraisal of the risky ideas and profit generation that will nurture the innovation system. In this context, he emphasised the need for venture capital to give a fillip to innovation.
Prof. Anil Gupta, IIM-Ahmedabad, Executive Vice Chair, National Innovation Foundation and Coordinator, SRISTI and Honey Bee Network, said the National Innovation Fund was created to build a national register of innovations, mobilize intellectual property protection, set up incubators for converting into viable business opportunities and help in dissemination across the country.
Devika Devaiah, Director, Erehwon Innovation Consulting Pvt. Ltd. stressed the imperative of creating innovation clusters, multiplication of innovation leaders at all levels of society, conversion of urgent needs like water, sanitation, accessible health care, education and poverty into national innovative projects and formation of a India Action Council for innovation.
The inaugural session of the conference was also addressed by Bansi Phansalkar, General Manager, India Engineering Operations, GE, and V K Topa, Advisor, FICCI.
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