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President calls for building an ecosystem that converts innovations into enterprises

3/19/2018

New Delhi, President Ram Nath Kovind on Monday called for building an ecosystem that converts innovations into enterprises. Inaugurating the Festival of Innovation and Entrepreneurship (FINE) at the Rashtrapati Bhavan here, he said the vision of a newer and better India lays stress on building an inclusive and innovative society where every individual has the capacity to realise his or her potential. ``It calls for revitalising every link in the innovation value chain in which schools encourage young talent to inquire and question rather than memorise and copy, while the government facilitates the environment .’’ While highlighting the need for meeting developmental milestones by 2022, when the nation celebrates the 75th anniversary of its independence, he however, cautioned that innovations by themselves were not enough, and needed an ecosystem that helps convert them into enterprises. ``This requires support for start-ups and for incubating young innovators. The concept of FINE brings the two wings of imagination of the bird together. We need to connect all the links of incubating innovations into enterprises by providing financial, mentoring and policy support,’’ he added. On the occasion, the President presented the Gandhian Young Technological Innovation Awards to entrepreneurs. The Festival of Innovation and Entrepreneurship (FINE) is an initiative to recognise, showcase, and reward innovations and to foster a supportive ecosystem for innovators. It has been organised by the Rashtrapati Bhavan in association with the Department of Science and Technology and the National Innovation Foundation from March 19 to 23. Integral to FINE will be an exhibition of innovations that will remain open for public viewing between 1200 hrs to 1700 hrs from March 20 to 23, at the Rashtrapati Bhavan.

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