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Innovation and Business
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Innovation and Business Concept and Types
Innovation and Business IPR and Innovation
Innovation and Business Importance or Benefits
Innovation and Business Problems and Challenges
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Innovation and Business
Innovation and Business
 
Innovation opens up new vistas of knowledge and new dimensions to our imagination to make everyday life more meaningful and richer in depth and content. Innovations are broadly divided into technological innovations,product innovations, process innovations and management innovations.

The Ministry of Science and Technology is the Central authority in India responsible for overall development of science and technology as well as for promotion of innovation process in India. The Department of Science and Technology (DST) is the the nodal Department of the Ministry for organising, coordinating and promoting S&T activities in the country. DST has also set up National Innovation Foundation (NIF) of India, with the main goal of providing institutional support in scouting, spawning, sustaining and scaling up grassroots green innovations and helping their transition to self supporting activities.

Various policy measures and incentives have been undertaken, both at the Centre and the State levels, so as to promote science and technology infrastructure and innovation activities in the country. One of the important step in this direction has been the announcement of Science and Technology (S&T) Policy, which seeks to reiterate India's commitment to participate as an equal and vigorous global player in generating and harnessing advances in science and technology for the benefit of all humankind.

There are several schemes and incentives undertaken, from time to time, by the Ministry of Science and Technology, the central level authority as well as by the State Governments. These schemes largely aim to build strong science and technology infrastructure in the country, which can further the process of innovation, promote technology commercialization and thus, can help to raise socio-economic conditions of the people.

One of the main initiatives taken in this direction is the launch of Technology Promotion, Development and Utilization (TDPU) Programme which is aimed at promoting technology development and industrial research in the country as well as encouraging its utilization by various section of economy, be it industry, academic, scientific institution and the society at large.

Gaining full benefits of innovation requires an effective and efficient framework across a wide range of policy areas, calling for an integrated approach and cooperation between business, governments and society.

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