–Written By Archi Aggarwal
BBA LLB First Year,
‘Changes call for innovation, and innovation leads to progress’
Innovations are not everyone’s cup of tea. They require observation, passion, patience, and perseverance. More than anything else, they need gumption and hard work. However, truly transformative inventions happen when idealism meets the incredible ideas of people who question the status quo, who defy logic, and those who love to take the road less travelled. What’s the first thing that displays in our mind when we talk about innovation. It is basically something unique or we can say something out of the box that can make living easier at low cost? Am I right? But innovation is something which is creative along with unique.
Innovation is a way of doing the same thing some other way. In innovation, creativity is involved. To understand innovation let’s take for example – 2 people are drawing water through the buckets from a lake. Let us say they could draw 40 buckets per day. How about if they create a pipeline drawing 1000 buckets per day. It will just take one time efforts to build a pipeline but once it is done, it will lead to a new level. All this is the result of nothing but the innovation of drawing the water through the pipelines, not the bucket.
India has jumped five places to rank 52 in the Global Innovation Index 2019, up from the 57 it had in last year’s rankings. India’s rise in the rankings has been a consistent trend over the last few years. It had ranked 81 in 2015, which rose to 66 in 2016, 60 in 2017 and 57 in 2018. “The performance improvement of India is particularly noteworthy,” “India is consistently among the top in the world in innovation drivers such as ICT services exports, graduates in science and engineering, the quality of universities, gross capital formation — a measure of economy-wide investments — and creative goods exports. “Given its size — and if progress is upheld — India will make a true impact on global innovation in the years to come,” the report said. Commerce Minister Piyush Goyal, who released the report, said that India’s hope of increasing the size of the economy to $5 trillion cannot happen without significant innovation.
Invention comes naturally to India. “Aryabhatta invented the zero, which probably is the mother of all inventions involving science and mathematics and astronomy.
Now let us talk about some recent innovations coming out from India. The best one is regarding cancer treatment. It focuses on ceasing cancer metastasis i.e. spreading of cancer tissues in other parts of the body. The therapy can bring down the cancer treatment cost by 10 folds. The cancer treatment will then be affordable to common man also.
Recently a student start up from Tamil Nadu named JHATAYU made Asia’s first flying bike which can travel in air as well as on land. A hybrid vehicle to escape traffic and roads. They have made a working prototype which can be able to lift 27kgs of weight into air.
India’s latest telescope is the most fascinating telescope that the country has ever built. The country’s first robotic telescope is located in Hanle in Ladakh, at the Indian Astronomical Observatory. This telescope is not only the first Indian robotic telescope, but it is also the first Indian telescope that is designed to observe transient or dynamic events in universe.
The peel of citrus fruits has little use after the juice of the fruits has been extracted. The extracts of citrus peel can be used to make certain specialty chemicals, such as limonene. However, the process of making these chemicals with citrus peel extracts is unviable, since it is extremely energy intensive. Yet, researchers at IIT Hyderabad have developed many more ways to use the peel of citrus fruits, which so often goes to waste.
For any organization, innovation is the key to finding cost-effective solutions to complex problems. And for the Indian government, which has to tackle a plethora of complex problems, innovation can be critical in delivering high-quality services to citizens. According to a new study, innovation in public administration is happening in India but these innovations need to focus more on improving citizen satisfaction.
More and more nontechnology companies are adopting digital technologies like AI, data analytics, and machine learning. This study of the economic performance of nontech firms adopting new digital technologies finds a persistent future increase in valuation. However, investors only slowly incorporate the value implications of digital activities into prices. Nontech companies with senior executives with tech talent improve performance more than those without.
So innovation is a buzz word that many may hear but fewer understand. The success of a culture that embraces innovation is limitless, but how is that done? The solution is a new product or process that is implemented and generates profits.