FINE to Build Ecosystem for Converting Innovations into Enterprises

Last Updated on May 23, 2018 by Bharat Saini

Festival of Innovation and Entrepreneurship (FINE) that aims to celebrate creativity and innovations, organised by the Rashtrapati Bhavan in association with the National Innovation Foundation (NIF) India and the Department of Science and Technology, Government of India, was inaugurated by President of India Shri Ram Nath Kovind on March 19, 2018. It had about 250 innovative exhibits by the award winners, school students, grassroots innovators, technology students, entrepreneurs, industry representatives and public sector organisations; that were on display up to March 23. FINE is an initiative to recognise, respect, showcase, reward innovations and to foster a supportive ecosystem for innovators.

Gandhi Young Technological Innovation (GYTI) Awards for 2018 were presented to 23 innovators that ranged from innovations in microscopy to biotechnology including one on the solar cooker, by the President after inaugurating FINE, as he noted that the innovations have the potential to make India a collaborative society and emphasised on translating innovation to entrepreneurship. GYTI Awards are given to student innovation in engineering, science, technology and design for affordable and frugal solutions. This year 2,915 entries were received in 54 technology domains from 312 universities institutes belonging to 34 states and Union Territories.

The President addressing the gathering congratulated the award winners and innovators and said that:

• Innovations need to be replicable that can reach out to all cross-sections of the society.
• Vision of a newer and better India calls for meeting certain developmental milestones, some of these as early as 2022 – when we commemorate the 75^thanniversary of our Independence.
• It focuses on building an inclusive and happy society, where every individual has the opportunity to realise his or her potential.
• An innovation society will be a goal for such an India.
• An innovation culture will be a catalyst to help us reach that goal.
• We need schools where children tinker rather than memorise and mug.
• We need work cultures where young talent looks up and questions rather than looks down and nods.
• We must also build an ecosystem for converting innovations into enterprises.
• We need to support Start-ups and Incubating young Innovators.
• We need to connect all the links of incubating innovations into enterprises by providing financial, mentoring and policy support.
• We need the government to provide a facilitative environment.