- October 28 2021
- 5 mins
AtmaNirbhar Bharat or Self Reliant India is a natural opportunity that has come India’s way with Innovation and push for entrepreneurial initiatives. The think tanks of the Indian government proposed five pillars for ‘Make in India’ to be successful. These have been namely
- Modern technology
- Vibrant demography
- Demand generation
Globally, the strength of a country’s entrepreneurial and Innovation ecosystem is GII (Global Innovation Index), released by WIPO. It is quite heartening to notice that India is one of the top three innovation economies with more scope for improvement in the current ranking order.
Atmanirbhar Bharat aims to take India to be innovative and make solid science and technology clusters fostered by innovation centres and government initiatives. Our nation must use its demography to its advantage for the promotion of Innovation and entrepreneurship. The innovation centres add a valuable element to the startup founders, reducing their fear of failure: the first building block of Atmanirbhar Bharat. India’s young population must get access to all the full opportunities to explore their hands in entrepreneurship and innovations.
One of the most important aspects of becoming Atmanirbhar Bharat, is the quality of Innovation, which can be fostered by educational institutions and their innovation centres like MiraiNxt. Some of the innovations which have impacted our life in the last two years have happened across Asia and not only in the developed economies. While covid has become a global challenge, it has also brought the Indian entrepreneurial ecosystem around opportunities to lead frugal innovations. With India is at the forefront of vaccine drives and medical innovations during covid, this rise of Indian intellect is one of the best examples of Atmanirbhar Bharat.
Once the current pandemic is history, the world might limp to normalcy. However, India’s growth story will need to have the ability to stand on its own and continue the spate of innovations. It will be necessary to have Innovation and entrepreneurship based on data and business intelligence to keep enhancing the self-sustenance ability of India. It will require India to strengthen our IPR ecosystem, which innovation centres support initially.
Most professional education institutes in India are establishing Innovation and Entrepreneurship ecosystems. However, the Industry associations need to play a more significant role in promoting entrepreneurship, bringing angel funding for startups coached in educational institutions and reducing their journey time to the market. It is a need of the hour for India to continue creating youth with problem-solving and critical thinking. With the innovation centres support, they can be ready to take new challenges with the willingness to learn from failures