Promising Ideas: Technological Innovation In India
Promising Thoughts: Technological Innovation In India
The eight groups of engineering learners all offered great, imaginative means to enable save the entire world, one particular idea at a time. The ideas ended up introduced in the finals of the Al Gore Sustainable Engineering ventures competition not too long ago at IIT-Madras, and I was blessed ample to be a person of the judges.
All the shows in the level of competition ended up impressive. A person was from a crew from IIT-Kharagpur that advised far better methods to desalinate sea water – a most welcome thought as a great deal of the environment faces water shortages, now or in the potential.
A further concept, introduced by a team from Sastra College, Thanjavur, advised a new suggests of capturing carbon from industrial exhaust to generate relatively low-cost industry-grade Carbon Nanotubes (CNT).
This could be significant for a selection of explanations, I realized. For one particular, it could considerably reduce carbon emissions from industrial furnaces.
For a different, we need to have new and greater approaches of generating CNT their unique molecular composition gives equally strength and chemical abilities that are paving the way for advances in nanotechnology, optics, electronics, architecture and other fields that have an impact on our day to day excellent of life.
“We can deliver Carbon Nanotubes at a fraction of the present international rates,” one of the Sastra University learners advised the judges.
The competitors was the consequence of initiatives led by Prof. Oopali Operajita, a senior advisor to many Indian parliamentarians. The unique feature of this competitors, not like other technologies venture competitions, is that 33% of the marks have been for sustainability parameters.
Another intelligent plan was a design and style that leveraged gravity and buoyancy to make improvements to the performance of ability era. This could be utilized to mini-electric power plants that work at a group degree. Yet another early-stage thought was a new approach for generating algae-centered biofuels – a low-cost and productive supply of power for the foreseeable future.
We judges, a lot of of us venture capitalists, received to speaking in excess of lunch and agreed that a quantity of these budding know-how entrepreneurs would close up at top rated consulting firms and banking companies – buying and selling in their desires for a cushy job with a multinational.
Even the several who managed to resist this temptation and essentially create a startup could not have the competencies and experience to correctly manage a business. What they have to have is a blend of entrepreneurial zest and dynamism with a smattering of expertise and maturity – what an Eric Schmidt brought to Google.
At the conclude of the opposition I was heartened by the talent base in the region as effectively as the means of these youthful individuals to make new thoughts.
The faculties themselves have set up entrepreneurship and innovation funds where by lots of of these children ended up ready to increase up to Rs. 10 lacs as original seed funding. There are also a variety of Indian and intercontinental competitions that present them a system to current and take a look at out their thoughts.
This is an great setting up stage. What we need to have additional of is a Silicon Valley variety of ecosystem, the place these youngsters can entry mentors as perfectly as executive expertise. They will need to have angels to assistance them – fiscally and managerially – to polish their suggestions into feasible business opportunities.
We have a number of angel networks like the Mumbai Angels and the Chennai Angels, but we require lots of far more people to lead time and funds to establish on these strategies. Even if only a few of these ventures choose off, they can produce a important variance not just for India but for the globe.
Do share your individual suggestions on how to endorse modern ventures in this nation (by the way, the Carbon Nanotubes notion won initial spot, and desalination was next).