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MDI Gurgaon
To foster a culture of innovation, we must follow a detailed and structured
plan to inculcate a spirit of innovation in the youth of the country.
The below plan, details the need for innovation as well as the steps to
implement the same and the intended results it will produce.
According to reports from the last 10 years, only one out of every 6
patents done in India belongs to Indians while the rest 5 belongs to
India-based foreign countries.
In the 2016 Global Innovation Index released by United Nations
World Intellectual Property Organization (WIPO), India stands at the
66th position
Only a less than 5% of the technologies patented by Indian
companies and organizations are actually feasible commercially
Organization for Economic Cooperation and Development (OECD),
only a 0.82% of Indias GDP is spent on research and development.
Even official records of the Indian Patent Office cast a gloomy
picturewhile patent grants for foreign inventions increased by
almost 300%, grants to Indian inventions grew by a mere 45%
A lot of start-ups cannot clear the initial hindrances like land
permissions, foreign investment proposals and environmental
clearances.