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Innovation takes centre-stage at CII summit

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Bengaluru: The theme of the summit is ‘Realising the National Dream – Scaling local innovation’.

“Creating a vibrant start-up ecosystem in rural areas is the key to achieving the goals and more companies should move from the startup stage to small and medium enterprises stage and into global MNCs,” Gopalakrishnan, also the chairman of India Innovation Summit, said.

He praised e-commerce player Flipkart for achieving valuation worth billions of dollars after starting out on a small scale.

Gopalakrishnan said CII has come out with the tools and techniques needed for addressing the question of how to create a vibrant start-up ecosystem in tier two and three cities.

V. Manjula, principal secretary, department of information technology, bio-technology and science and technology, Karnataka, said India exploited only a fraction of its innovative capability despite being a nation known for its improvisation.

“There is a lot to accomplish and the silver lining is the demography of India,” said Manjula.

Manjula said the Karnataka government established a start-up warehouse and proposed to set up an innovation fund. The Karnataka government has also launched nine innovation centres for engineering colleges.

Mohan Sekhar, senior MD, Accenture highlighted on the need of frugal innovation and praised Tata Group for implementing it in some of its products.

He specifically focused on Tata Chemicals water purifier Tata Swachh for not using electricity and just rice husk for purifying water frugally.

“It is all about innovation, where ever you stay — whether in the Silicon Valley or anywhere else. Innovation is shaping the future of mankind and the future of corporate India and the Indian government,” added Sekhar.

The two-day summit, brainstorming on innovation, has scheduled panel discussions on ‘Make in India’, agriculture and agro products, smart cities, financial inclusion, infrastructure for transportation, entrepreneurship and Clean Ganga Misson by eminent speakers and industry experts.

(IANS)

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Why is the Scene of Entrepreneurs in India Distant?

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Entrepreneurs in India
Business Startup. Pixabay

New Delhi, July 28, 2017: What is entrepreneurship? It is the capacity and willingness to develop, organize and manage a business enterprise along with risk factors in order to make a profit. This implies that there is no business without risk.

There are many obstacles that trouble a growing entrepreneur in India. This doesn’t mean that there aren’t any entrepreneurs in India, but rather the number of entrepreneurs springing up is not an encouraging figure.

Here are some of the reasons for fewer entrepreneurs in India:

 Brittle family system

This issue bothers entrepreneurs in India because of the stronger family ties that we Indians have. Family support is always absent in such cases. Parents always prefer their children to take up a conventional 9-5 job rather than take up a risky business venture where there is no guarantee that the venture will work out and a high level of risk is involved.

Government ordinances

A few business ventures that break free from the restraints of the usual problems get caught in the outmoded policies of our government. The framework of our administrative system limits the organic development of the enterprises.

Low Internet usage in India

The majority of the innovations in the world occur at internet space. The internet usage percentage stands low at 5% in India. Such a small number makes it really difficult to bring in money and few entrepreneurial ventures.

Also Read: Most Indian firms see Employee experience as a critical aspect of achieving their Business Objectives

Indian education system

The main reason for low innovation in entrepreneurship is our educational system. Our education system hardly focusses on innovation right from its inception. Without an innovative idea, no entrepreneurial venture can sustain itself beyond the initial stages.

Bottom Line

India being a developing nation hasn’t made much progress in the direction of innovation. What we really need to do is mold young minds and inspire them to think creatively. They should be encouraged to let go of their impediments and take the risk to tread a path that’s not yet been explored.

– by Naina Mishra of Newsgram. Twitter @Nainamishr94


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