NewsSouth News

R.A. Mashelkar Highlights India’s Innovation Potential at Bengaluru Tech Summit

Renowned innovation specialist R.A. Mashelkar, former Director General of the Council of Scientific and Industrial Research (CSIR), emphasized India’s robust intellectual capital during a plenary session at the Bengaluru Tech Summit 2023. Mashelkar cited examples such as the National Chemical Laboratory’s international consulting success and the groundbreaking UPI innovation, accounting for 46% of global transactions in 2022.

He outlined six principles for startup success, including affordability, scalability, sustainability, universal acceptance, rapid-to-market strategy, and a distinctive business idea. Acknowledging Karnataka’s achievements, he urged the state to transition from innovation-led incremental growth to exponential growth for sustained success in the startup ecosystem.