A recent news about India's Smart Grid Task Force pushed my interest in further probing about Innovation in India.
Taking or Bringing technology to the grass roots to solve problems is a great way to innovate. Business today explains how Indian companies have managed to innovate. Their recent issue also talks about a handful of independent Indians have managed to do it at their level. One hot startup ideas (next to only to social media strategising) is Innovation consulting - helping other startups and companies to innovate. Quoting BT, a few myths about innovation are
- Innovation is expensive, demanding lots of resources... Failure to innovate is what is costly.
- Create hundreds of ideas because of high failure rates... Fewer, bolder ideas based on your company's capabilities and unmet customer needs you discover work best.
- Early financial analysis is key to approving concepts... Nearly always wrong—build prototypes instead.
Surprisingly, it looks like the National Knowledge Commission's (NKC) very definition and viewpoint on the topic is in contrastingly different. According to its report on innovation,
The Innovation ecosystem is a complex environment that requires the coordinated functioning of a number of diverse factors in order to function effectively. Innovation also needs to become as wide spread as possible, spreading across the entire economy, from the grassroots to the large firm level. It is felt that a comprehensive effort to address these issues would act as a critical enabling factor for India to be amongst the global leaders in Innovation.
We will have to wait and see how fast the NKC manages to do the above, considering the fact that the smart grid initiative which was launched recently was suggested years ago by a Stanford University student here
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