President seeks ecosystem for converting innovations into enterprises

 President Ram Nath Kovind said today that we need to build an ecosystem for converting innovations into enterprises. This requires backing for start-ups and for incubating young innovators by providing financial, mentoring and policy support, he said.

Inaugurating the Festival of Innovation and Entrepreneurship in Gandhinagar and presenting the 10th Biennial National Grassroots Innovation Awards, he said that an innovative idea in itself is not enough. It is important to ensure that a creative idea gets the support it needs for its maturing, diffusion and delivery on the ground. Innovation itself is only the first of two key drivers to ensure that any innovation becomes actionable, he added.

The President said that the second key driver is entrepreneurship, which needs to supplement innovation so as to deliver benefits to our fellow citizens. He said that as we seek to meet important developmental goals and build a caring, inclusive and happy society, we have to draw upon the power of innovation to find solutions to India’s concerns in diverse domains such as health, education, food security, energy access, environmental protection, and national security.

“We have to make all efforts to promote an innovation culture and become an innovation society. This will provide us the best possibility of ensuring that every young Indian will have an opportunity to realise his or her true potential”, he added.

He recalled that Gandhiji strongly advocated finding local solutions to local problems. This thought was inherent in his idea of Gram Swaraj. It is a matter of immense satisfaction that this Festival sees participation from several grassroots innovators who have been inspired to find effective solutions to problems that they experienced in their communities.

As we seek to meet important developmental goals and build a caring, inclusive and happy society, President said that we have to draw upon the power of innovation to find solutions to our concerns in diverse domains such as health, education, food security, energy access, environmental protection, and national security.

“We have to make all efforts to promote an innovation culture and become an innovation society. This will provide us the best possibility of ensuring that every young Indian will have an opportunity to realise his or her true potential. In the wider sense, an innovation culture can be a catalyst to help us reach our goals as a society and as a nation” he added.

 

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