1. Adding Entrepreneurship to India's Science, Technology & Innovation Policy
- Author
-
Ragini Chaurasia and Mitrasen Bhikajee
- Subjects
entrepreneurial policy and education ,Economic growth ,Entrepreneurship ,Technology ,Best practice ,growth ,private sector ,India ,050905 science studies ,Management of Technology and Innovation ,0502 economics and business ,Economics ,T1-995 ,Curriculum ,Technology (General) ,Government ,05 social sciences ,STIP ,government as venture capital ,Venture capital ,Private sector ,Investment (macroeconomics) ,Transparency (graphic) ,0509 other social sciences ,050203 business & management - Abstract
Science, Technology & Innovation Policy (STIP) is an important policy instrument particularly in the developing countries. India also has recognized the role of science, technology and innovation in development as early as 1958 but still trails behind its peer Brazil, China and the Asian tiger Singapore. Considering strong correlation between research and development investment and growth based on existing studies, this paper brings forth the present situation of India in investment and its influence on the performance of the economy vis-à-vis the three countries. This paper studies the STIP 2013 in detail and reports the contribution of the Department of Science and Technology in India. The main conclusion of this paper is the recommendation for incorporation of "entrepreneurship" in STIP based on global best practices, which can be achieved by government's involvement as a venture capitalist to seed and support innovations, increasing transparency and incorporating entrepreneurial curriculum.
- Published
- 2016