Developing the innovation ecosystem in India
Rajdeep Sahrawat, Vice President of NASSCOM, has a great piece in the Deccan Herald on developing the innovation ecosystem in India. He addresses how each of the involved stakeholders need to play their bit to develop this ecosystem.
Some excerpts that caught my eye:
While risk capital availability has increased in recent times in India, most of it is deployed as later stage or private equity investments in relatively low risk areas, thereby creating a large gap in availability of seed capital, especially for high risk innovations. Firms continue to focus on factor based competitive advantages and are consequently reluctant to invest in disruptive innovations.
Talking about educational institutions:
Suffering from resource and faculty shortages, the secondary and tertiary level academic institutions continue to offer curriculum and pedagogy which is hardly relevant in today’s environment.
Finally,
India today stands on a unique cusp of history where one of the world’s youngest population is transforming a scarcity driven mindset into an aggressive ‘can-do’ attitude. The billion problems of India provide a fertile environment for innovations which can benefit society in India and elsewhere.
Read the entire essay at Deccan Herald
