Page 8 - MSME August 2016
P. 8
Special Article 16 had announced the Government's intention India will have to encourage creation of new SMEs to establish the Atal Innovation Mission (AIM) and focused on manufacturing, while spurring grassroots a mechanism to be known as SETU in NITI with innovation and growth. Putting entrepreneurship at an initial sum of Rs. 500 crore and Rs. 1000 crore the forefront of the economic agenda is, thus, the respectively. need of the hour,". As a follow up of Budget announcement, The President said many of the advanced NITI Aayog constituted an Expert Committee nations have capitalized on their educational on Innovation and Entrepreneurship under the network to assume leadership positions in the area Chairmanship of Prof. Tarun Khanna, Director, of innovation, start-ups and research. South Asia Institute, Harvard University, USA to work out detailed contours of AIM and SETU. India with an educational network of over 700 universities and 35,000 colleges is optimally The Committee in its report made wide ranging placed to capitalize on its intellectual seed capital. recommendations for the short-term (where action In the conference of vice chancellors of central can be taken relatively quickly to deliver almost universities in 2013 also, Mr Mukherjee had called immediate payoffs), medium-term (that can be upon them to consider setting up innovation clubs addressed within a 5-7 years time frame) and that would act as a platform for exchange of ideas long-term, which are likely to have long gestation between the students and faculty, and grassroots period, but will lead to a profound transformation innovators. in the entrepreneurial fabric of the country. Highlighting the issue of low levels of The Committee also emphasized the need to investment by Indian firms and businesses in R&D, establish clear systems to monitor implementation, the President said that current investment levels in execution, and impact. R&D are a fraction of what world class companies The AIM and SETU are initiated as a follow spend. The major contributor of R&D expenditure up of Union Budget 2015-16 announcements. is the Government. Without a substantive stepping The proposal was considered by government on up of these expenditures, we cannot expect to be at 28th August, 2015, and it was observed that AIM the higher end of the value chain, he said. He has is a Mission and SETU is an approach. Therefore, also called upon the private sector and institutes there should be one umbrella scheme titled as of higher learning to devote a larger part of their 'AIM' which will have two sub-components - i) resources for R&D to enable innovation and job Innovation; and ii) SETU, wherein the innovators creation across the economy. would be supported and mentored as successful The week long Festival of Innovations was entrepreneurs. organized at the Rashtrapati Bhavan in collaboration Inaugurating the second edition of week- with the National Innovation Foundation. A total long Festival of Innovation (FOIN) in March, this of 65 grassroots innovations were be part of the year , the Hon’ble President of India Shri Pranab festival. Mukherjee said that the Indian economy needs to The President’s Secretariat was assisted by generate 115 million non-farm jobs over the next the National Innovation Foundation (NIF), an decade, to gainfully employ its workforce and reap its 'demographic dividend'. autonomous institution under the Department of Science and Technology, government of India, and "We need to focus on 'inclusive innovation' Society for Research and Initiatives for Sustainable projects which are initiatives that directly serve Technologies and Institutions (SRISTI), part of the the welfare of lower-income and excluded groups. Honey Bee Network. 6 Laghu Udyog Samachar
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