Easy way to learn the National Innovation Foundation
National Innovation Foundation
- It is an autonomous body of the Department of Science and Technology (DST), Government of India.
- So why was it founded?
- What were the factors that it was introduced?
The Challenges
- India’s investment in R&D decreased over the last decade from 0.85% of GDP in 2008–2009 to remain stagnant at around 0.7% for the last several years.
- This is significantly lower than the top five R&D spenders globally.
- Low investment in R&D and translation capability and lack of investments of private players in innovation are major contributors to sub-optimal innovation outcomes.
- India needs it’s own solutions for it’s problems.
- Education system doesn’t push students to think out of the box, it is more about scoring marks.
- India needs innovative companies like Google and Samsung.
What policies will you Suggest?
- Think like a senior Government official.
- What measures should Government take to better India in innovations?
- How can government create environment for innovation?
- Share your views in comments.
Government steps
- NIF was set up in February 2000 at Ahmedabad, Gujarat.
- To provide institutional support for sustaining and scaling up the grassroots innovations across the country.
- It is India’s national initiative to strengthen the grassroots technological innovations and outstanding traditional knowledge.
- Its mission is to help India become a creative and knowledge-based society by expanding policy and institutional space for grassroots technological innovators.
Setting up INSPIRE Award – MANAK (Million Minds Augmenting National Aspiration and Knowledge) for students
Setting up of Micro Venture and Innovation Fund for budding entrpreneurs
- Realizing the need of extending risk capital to grassroots innovators
- NIF established a dedicated risk fund for such innovators named as Micro Venture and Innovation Fund (MVIF)
- It is of Rs 4 crore for ten years with the support of SIDBI in 2004.
- Under the scheme, support from MVIF is made available to innovators and entrepreneurs who are associated with NIF for technology commercialization.
Setting up IGNITE competition for students
Setting up a Technology Business Incubator (NIF)
- Government set up – NIF Incubation and Entrepreneurship Council (NIFientreC).
- It is a Setup for incubation of technological ideas and innovations of grassroots innovators and students across the country.
- Enterprise based on innovative technologies are given a platform of incubation by involving experts from different area.
- Identification of innovative technologies and startups based on innovative technological ideas and innovations.
- Shortlisting of potential enterprises to be incubated.
- Incubation in terms of validation, value addition , IPR protection , etc.
- Branding of the innovative products and identifying target regions/user groups.
