Oslo Manual defined innovation as the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relation. Innovation is based on the results of new technologies, new combinations of existing technology or the use of other knowledge acquired by the enterprise. This kind of improvement bring rise in productivity, efficiency and much needed economic growth. Innovation and entrepreneurship become crucial link to development of economy and society.
To get innovation going requires commitment from companies and support from the government policy for R&D and entrepreneurship. Development of newer technologies and newer way of doing things require an eco-system where venture capital financing is available and also enough funds for doing Research and development and also funds for marketing new ideas and technologies. Scientists, Researchers, entrepreneurs and venture capitalists are required in that thriving eco system. The Government policies in area of R&D, Venture financing and entrepreneurship help create that eco system. These initiatives come from both big and small companies. These companies through their initiatives promote new ventures and new technological innovation in terms of products and services.The Government of India has come up with several initiatives like Digital India, Start-up India and Make in India. It is also promoting Incubators, Accelerators, Venture Capital financing, industry clusters and investment in Research labs and world class universities. The Global institutions have given new frameworks of Global Competitiveness report, Global Innovation Index, The World bank’s Ease of doing business help understand the important factors in creating thriving Innovation and start up landscape.
This course is divided into 8 broad themes:
- Innovation and innovation eco-system
- The policy Framework
- Start-up Landscape and Innovation Hubs
- Digital India and Make in India
- Linking Innovation with Intellectual Property Rights
- Raising Finance for Start-ups in India
- Innovation in Indian Context
- Writing a Business Plan
What you'll learnThe course provides a broader view on all relevant aspects of Startup and Innovation policy and eco-system. It gives an understanding of the general policy framework in which government is trying to promote innovation and start up in India. The course also takes students through the important institutions, concepts and terms which can help learners to take advantage of the policy framework.The framework of this module comes from the 'Start-up India' programme of Government of India which is intended to build a robust eco-system for nurturing innovation and start-ups that in turn will drive sustainable economic growth and generate employment.Participants of this program will learn the policy framework of innovation and start-ups in India. This course aims to serve the following objectives:
- To help participants understand the framework of policies to promote Innovation and start up
- To help participants understand the eco system and institutions which help companies in Innovation and entrepreneurship
- To help them be able to do comparative analysis of the eco system of innovation and start-ups of different countries
- To help participants understand the link between economic development, innovation, entrepreneurship and public policy framework
- To enable participants to figure out how to make use of the framework for the growth of the firms.