Recently a decentralized, bottom-up, and inclusive process for the formulation of a new national Science Technology and Innovation Policy (STIP 2020) was jointly initiated by the Office of the Principal Scientific Adviser to the Government of India (Office of PSA) and the Department of Science and Technology (DST). The policy is being formulated at a crucial time when India and the world are facing the COVID-19 pandemic and finding ways to tackle it.
Continuing its efforts in promoting innovation and entrepreneurship, Atal Innovation Mission has engaged in contributing to the society in these times of pandemic through an inter-ministerial working group. Let us understand the working and program of Atal Innovation Mission in this article.
Startups are a vital part of the Indian economy as they promote economic growth, create employment and foster a culture of innovation. The Indian government launched the Startup India Campaign, recognising entrepreneurship as an increasingly important strategy to fuel productivity growth and wealth creation in India. During the Union Budget 2020, the Finance Minister gave high emphasis on measures taken to promote and support startups as they are going to the driver of the Indian economy in the near future. From infrastructure boost to easing tax burdens, the budget has proposed numerous benefits for the startups. The recent economic survey pointed out an increase in startups in India. However, many are opting to register overseas due to complicated compliance norms and loss-inflicting laws. Necessary reforms to ensure ease of doing business for the startups is vital for the success of the startup India initiative.
India’s biotechnology sector has evolved steadily and significantly in the last two decades, growing at a Compounded Annual Growth Rate (CAGR) of 20%. The government is currently aspiring to reach the target of USD 100 billion by 2025. Indeed, India has always been a high-performer when it comes to this sector. Yet, there still exist several lacunae that need to be addressed for both achieving the target and also ensuring further development…
Creativity and innovation are the energy source that fuels the growth and development of any knowledge economy. The 21st century, particularly, belongs to the knowledge era and is driven by the knowledge economy. With rapid globalization and liberalization of trade, there has been an emergence of “Intellectual Capital” as a key wealth generator resulting in Intellectual property rights becoming an irreplaceable element.