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IT research more vital than capital investments for faster economic growth: Experts

Our Bureau Kochi | Updated on May 12, 2021

Celebrating the National Technology Day, the online Conclave showcased 20 curated products from select research institutions

The country needs more technological advancements than capital investments for faster economic growth, experts said, urging for research that promotes the use of IT in ways beneficial to society.

India should rely more on developing technologies through indigenous means, experts noted at an online summit organised by Kerala Startup Mission to celebrate the National Technology Day.

The day-long ‘Technology Conclave’, held under the aegis of RINK (Research Innovation Network Kerala), also showcased 20 curated products from select research institutions with a view to translating innovation-related knowledge in labs into commercially-viable products and services.

At a panel discussion titled ‘Research & Innovation — A Catalyst for sustainability growth’, entrepreneur C Balagopal lamented that easy import of technology was making Indian minds in the field lazy. “Instead of providing our compatriots with the technology they need, we are forced to adapt in tune with the global changes in the field,” added the former IAS officer who was instrumental in setting up Terumo Penpol which is India’s largest blood-bag manufacturer.

Balagopal further said the level of IT research happening in India’s private firms is far less vis-à-vis in the public sector, emphasising the need for more government funds to promote innovation-boosting activities.

Prahlad Vadakkepat of National University of Singapore, while stressing the need for trusting the competence of researchers, highlighted the role of science in better standards of living. “Research should start at the level of graduation,” he added, calling for the need for entrepreneurs getting platforms to resolve their issues with help from researchers. “Only then can research endeavours find commercial prospects and industries find better solutions to their technological hiccups.”

Volvo Director (Innovation) Sudeendra Koushik said innovation, research and entrepreneurship are interrelated. Researchers should work in tune with the needs of consumers, catering to their flavour so as to boost the market of the products.

The session, which sought to provide recipes for businesses to flourish amid the crisis triggered by a second wave of Covid-19, was moderated by Rajesh Nair of Ernst and Young.

The event, which was conducted in association with TiE Kerala, gave corporates, startups and MSMEs an opportunity to understand more about cutting-edge research products in frontier technological areas developed in the country’s premier research institutions.

The meet was also attended by experts and professionals from leading research bodies such as C-DAC (Centre for Development of Advanced Computing) and Council of Scientific and Industrial Research, National Institute for Interdisciplinary Sciences and Technology, Indian Council for Agricultural Research, Indian Institute of Spices Research, Rajiv Gandhi Centre for Biotechnology and Sree Chitra Tirunal Institute of Medical Sciences and Technology.

Published on May 12, 2021

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