Millennium Post

'Need ecosystem to convert innovations into enterprises'

Need ecosystem to convert innovations into enterprises
New Delhi: President Ram Nath Kovind on Monday said innovations by themselves were not enough and there was a need to develop an ecosystem for their conversion into enterprises.
The vision of a newer and better India calls for meeting certain developmental milestones, some of these as early as 2022, the year the country commemorates 75th anniversary of Independence, he said at the inauguration of the Festival of Innovation and Entrepreneurship (FINE) 2018.
The president also presented the Gandhian Young Technological Innovation (GYTI) Awards on the occasion. He called for revitalising every link in the innovation value chain.
"We need schools where children tinker rather than memorise and mug. We need work cultures where young talent looks up and questions rather than looks down and nods. And, of course, we need the government to provide a facilitative environment," Kovind said.
An important initiative of the government is to encourage young people to innovate and address unmet needs of the society, he said.
"We have to promote cutting-edge technologies alongside grassroots innovations so that a pipeline for future
applications is generated," he said.
The president said climate change and fluctuations as well as burden of communicable and non-communicable diseases are adding to the complexity of the human habitat. The need for technology-driven solutions cannot be ignored.
"I am conscious that innovations by themselves are not enough. We must also build an ecosystem for converting innovations into enterprises. This requires support for start-ups and for incubating young innovators," he said.
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