In the past few decades, India has steadily grown in economic strength. Various policy initiatives by the Government, advent of the information age and growing aspirations of the Indian Industry to be globally competitive, have been significant factors in driving this growth. With its renown for good scientific talent and with its demographic dividend, India’s potential is further bolstered. Yet, to be able to leverage this potential, while bridging the economic and knowledge divide, there is a need to diffuse and foster a culture of innovation across the country. Innovation is not limited to products or processes, but is horizontal covering all aspects including fund-raising, business models, collaborations and others, helping businesses take the next leap towards growth.
To bridge the demand-supply gaps in multiple aspects of a business, the creation of Cluster Innovation Centres (CICs) in each industry cluster is proposed. Each CIC will act as a networking hub for the cluster, connecting the various regional/national actors and stakeholders in symbiotic relationships. Thus, the CICs will drive need-based innovation in the industry clusters in a localized manner, prioritizing the needs of the industry and enable agencies like the Government and others in directing their efforts for increased efficacy.
To aid and guide the CICs in day-to-day operations, an Innovation Toolkit, a knowledge repository covering relevant aspects for improving innovation readiness, is also proposed. The toolkit, which will primarily be available in an online format, will aggregate best practices, expert advice and case studies from relevant sources across the globe.