Roundtable in India sheds light on micro-venture innovation finance
The next major breakthrough in India will come via micro-venture innovation finance, Indian President Pranab Mukherjee said citing the country's long tradition of grassroots innovations.
He said the Make in India, Clean India, and Inclusive India, under which financial inclusion is of prime essence, needs a significant push.
Mukherjee said Bangladesh's Noble laureate Prof Muhammad Yunus had created an outstanding model for microfinance that led to the emancipation of poor in developing countries.
He spoke while addressing a global roundtable on inclusive innovations at Rashtrapati Bhavan in India yesterday where Yunus was the guest of honour, Yunus Centre said in a statement.
"To my mind, the next major breakthrough will come through micro-venture innovation finance, which has been pioneered by the Honey Bee Network and National Innovation Foundation," Mukherjee said.
The union minister of science and technology for India, Harsh Vardhan, is spearheading the scientific and technological strategies for an inclusive growth under the leadership of the Indian Prime Minister Narendra Modi.
"The Make in India, Clean India, and Inclusive India, under which financial inclusion is of prime essence, needs a significant push," the president said.
Youth power has to be galvanised for nation-building, he said. "Thus, the students have to be encouraged to sense the unmet needs of the common man, and search, spread and celebrate innovations."
India has had a long tradition of grassroots innovation. From time to time, the common people in this country have ushered in novel solutions to overcome their day-to-day difficulties, he said.
"A healthy eco-system is needed for harnessing the innovative potential of various segments in different sectors and at multiple levels in our society.
"Creating an inclusive eco-system calls for linkages between grassroots innovators on the one hand, and academic institutions and market forces, on the other," Mukherjee said.