COVID-19 has given us many lessons by handling miseries and challenges given to mankind. It has forced us to innovate due to compulsions. The production of vaccines is one such big success story for India lauded by the world community. The impetus of the government encouraged the community to make devices by health startups and be “Atmanirbhar”. Many items we were importing are gone for export. Annual budget of 2022 has also encouraged innovators by incentives. The Prime Minister often speaks about innovations and participates in Hackathons and Ideathons conducted in the past by the Ministry of Education. The funding and prizes given to young innovators to motivate is the new norm of today. We also encourage such initiatives by publicizing through our magazine.
The behavior of the community has changed drastically that they are now transacting business with so ease in virtual/online mode which was not done in the past.
InnoHEALTH has a circulation of 93,000 readers. With multiple sources the funding in the present situation has become more convenient which was earlier a tough task. The behavior of the community has changed drastically that they are now transacting business with so ease in virtual/online mode which was not done in the past. We have entered the digital world by compulsion to organize events in virtual modes, teaching in class to election rallies are accepted online. While we lost something but also gained by not running organisations in physical mode.
We have progressed and brought innovations in fast track. India is home to 81 Unicorn with a total valuation of USD 279 billion of these 43 with USD 89 billion emerged last year. USA is top in number of Unicorn while India is fourth after China and UK. Media is reporting how we are added to every month’s list of Unicorn and soon we will surpass 100 Unicorns.
Let us innovate to improve quality, reduce cost and import. It would generate more employment and create a better economy.
In Jan 2022 there are 46 companies in the world having decacorn status out of which India has four: Flipkart, BYJU’s, Paytm and Swiggy. Let us not count on rosy pictures but to be successful analyse our failures too. IBM institute study finds that 90% of Indian startups fail within the first five years of inception. Innovation has become a buzzword lately but what we need to ensure the reduction in failure rate of innovations. Let us innovate to improve quality, reduce cost and import. It would generate more employment and create a better economy. As quoted in my book: Alexander Blass, CEO of Innovation Institute of America, Inc. and winner of Top Innovator of the Year award said “It is no secret that many of the world’s top innovators come from India. Within the past few decades, India has embarked upon an incredible transformation from an agrarian-based society to a knowledge-based economy. Along with the population growth came survival instincts and the need to be different, better and unique. One can see innovation everywhere in India, whether in large game changing innovations that garner lots of publicity, or in less obvious yet important incremental fashions”
We are celebrating 75 years of independence but simplified govt policies in the last few years and recent challenges have encouraged our younger generation of 11 to 12 years of age to innovate who have been awarded by the President/Prime minister every year. We also publicise their good work through our innovators’ club meetings and magazine to let the ecosystem know and motivate others. The Prime Minister always talks of “Naya Bharat”, it is our duty as citizens to make our country of 1.3 billion population the best in the world. It should not be a country known for snake charmers and beggars but rather a country of innovators showing way to others.
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