CII Fostering Innovation Culture Nadiad 5 Sep 17

Fostering Innovation Culture The Importance in Current Scenario Manish Kothari – Managing Director Rhino Machines Pvt Ltd Anand, Gujarat, India.

Presented at: Dharmsinh Desai University, Nadiad Gujarat : 5th Sep 2017 Meeting Challenges is the Way of Our Life

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• Innovation is to make changes in something established, especially by introducing new methods, ideas, or products.

• The culture of Innovation exists from centuries – its nothing new • India is blessed with immense innovation talent pool with some amazing ideas and very innovative methods • The culture exists in India, but has not been cultivated and harvested as it should be.

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Innovation Culture

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• There is a need to create solutions which relate to the Indian Context, Indian Culture and Indian Economics • Manufacturing in India and Made in India needs the support of Indian Innovators to become competitive, productive and efficient • The natural resources are dwindling, the urgent need to adapt and improve the efficiencies in Energy, utilization and harnessing of water, addressing renewable energy sources………all need innovative and lateral thinking.

• We carry a rich history of innovation, which can be plugged into our present and future with innovative thinking.

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Importance of Innovation Culture in India

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• Encouraging Innovation • • • •

Break the resistance of society Direct the academics to thinking mode Readiness of Indian Industry to support innovative ideas Recognition and support for innovation from grass root level

• Supporting Innovation • • • •

Remove fear of failure Remove fear of marks and cgpa.., these are just numbers Encourage application of knowledge rather than cramming of information Industry & Govt to co-invest in innovation as a part of annual spend

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Which areas we need to foster

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• Bouncing board and/or mentoring post the ideation • Evaluation of the innovation as a commercial model • Creating documentation for Patenting and IP rights.

• Funding of initial ideation – finding the money!

• Understanding commercials, documents and funding – biggest challenge.

• Building business models out of the innovation – hand holding and mentoring support • Scaling up of innovation, setting up manufacturing in India!!!

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Challenges for Innovators

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• Theoretical Research • Isolated from Real World

Govt • Policy Issues • Politically Driven Agenda • Funds available

Academia

Industry

Society

• Lack Originality • Limited research abilities

• Failure is a taboo • Looking for immediate results

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Innovation – old scattered scenario

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Addressing Real Needs Theory supported by Practice

Industry

Academia

Govt Recognition of Innovation Funding of Start Ups

Society

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Innovation – Convergence for Sustenance

• Society should encourage lateral thinking and allow exploring ideas • Academics should move from only bookish knowledge and provide adequate exposure to faculties and students in industry and society.

• Academic faculties should be part of the industrial research & development program • Industry should be invited to share the areas of innovations required • Government should encourage and leverage those who are willing to risk, innovate and experiment • Financial Institutions need to recognize and fund innovations with more compassion.

• Create pool of technical and commercial mentors to support new innovations

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The Way Ahead .. some thoughts

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Innovations at Rhino Data Analytics Skilling India Reclaim Sand Multiflex Ecoflex

From Darkness to Light

From Noise to Sound

From Waste to Money

From School to Skill

From Approximate to Actual

Thank You Rhino Machines Pvt Ltd www.rhinomachines.net

This document is property of Rhino Machines Information is based on data available and subject to correction

ISO 9001:2008 Certified