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Transcript

So friends in my last class we played a game known as toss the ring. Wherein I am sure you must have understand the concept of achievement motivation and how we set the targets and what are the impediments the we come across in achieving the target. And at the same time there is an element of risk in achieving the target and achieving the success. So these are some of the issues we try to understand with the help of the game. In this class we will be discussing about the generation, incubation and commercialization of ideas and innovations. As I said in my previous discussions also entrepreneur is always in search of ideas and innovations. Why he is in search of ideas and innovations? Because innovation are going to add value to the product that he is launching in the market. So the concept of innovation we have been repeating since in many discussions. So what exactly we mean by the term innovation. Basically, innovation is an idea or a practice which is perceived as new by new individual or society under given circumstances. Hither to unknown idea or hither to unknown practices become an innovation for that individual or for that society. And when I perceive it as new so I have my own levels of curiosity to quench my thirst of understanding that particular thing and that is how I am motivated to achieve that goal and that is how innovations become very very important for the entrepreneur. And good number of ideas that are going to be in the form of innovations so that is what is the entrepreneur is in search of with all his experiences. Is it that entrepreneur is not having any idea or innovation and all the time he is getting it from other sources, obviously No, because he is innovative in his approach so that is how he became an entrepreneur. But being an individual he is also having the limitation his ideas he has already implemented and to compete in the market he needs newer idea newer innovations so that maybe the outcome of technology or maybe the research process various other issues that he might not be aware of. That is what he is searching for. So, entrepreneur is always in need of the ideas to initiate, maintain and continue with their entrepreneurial ventures. He is already having the venture but to sustain that thing for the longer period of time it needs good number of new initiatives and that is why he is in the pursuit of innovations. The process of generating ideas itself is innovative process. How can you generate the ideas. So that itself is one of the innovative process for which they are taking up good number of efforts and developing the ideas. From where an entrepreneur get the ideas? This is what is the biggest question. It is a million dollar question and they are ready to pay any amount for these innovative ideas. Just to share with you couple of years back I met a friend from Bangalore who is a software engineer. During our discussions he made very interesting revelations that in the city of Bangalore the dropout rate in case of engineering colleges is increasing. Really it was a very announcement for me or discussion for me. As a student of extension I have heard of the dropout rates in case of schools especially in the urban areas in poor classes or the weaker sections of the society are going for the dropping outs especially at the elementary school level. But what my friend said it is the dropout rate increasing in the engineering colleges in the city of Bangalore. It was really an interesting case for me. Then we started deliberating on that. Then later we came to the discussion then he said that why dropout rate is increasing because the organization, the successful entrepreneurs they are coming to these colleges in search of the ideas. And for which they are conducting different types of sessions that we will be discussing, a range of efforts how the innovations are ideas are generated. So, they are conducting different types of sessions and the promising ideas and the promising innovations what they got it from the students they offer them exhorbitant packages. The basic question they are going to ask is how much package you are expecting after completion of your graduation. Maybe the student is in 2nd year or he is pursuing his 3rd year. So, it means he needs atleast another 2 to 3 years to complete his graduation. And they are asking them how much package that you are anticipating. May say that around 30 lakhs, 40 lakhs, 50 lakhs whatever it is, as per their capacity, as per their imagination. They are simply offering double or in many cases more than double the package what they are expecting because that particular girl or a boy or a group of people are having the ideas which are going to fetch them many times higher profit what they are offering to those students. The student is also thinking if I am going to complete of graduation it is taking another 2 years by the time I can earn this much and all those things and I can establish myself as an entrepreneur so on and so forth. So that is how they are leaving the studies and joining those groups with their innovations and that is how there are considerable number of students who are moving in this direction. It is only because you have that idea which can get you that amount. Now coming to the various methods of generating ideas.

The first one is the Focus Groups. It is a methodology in case of extension education also. Wherein a group of individuals provide information in a structured format, maybe they are experienced people in a particular area so they are given a particular topic and they were asked to provide various problems as well as suggestions and outcomes to overcome all those things and that is how you are coming out with good number of ideas.

Brainstorming is one of the traditional methodology which is in practice since more than 3 or 4 decades for the generation of new ideas and the solutions. So the methodology of brainstorming is when the US space scientists were designing space suit for the astronauts they wanted to have the full proof design for that and for which they opened that opportunity for all sections of the people who are working and everybody suggested their ideas and to the surprise of the space scientist the dressing design for the astronauts suggested by the biologist was the most suitable and was the most appropriate. So that was the moment wherein the brainstorming was identified as a methodology. It means the ideas are not limited to the professionals who are having the formal education in a particular field. It means anybody can have the potential of suggesting the ideas, or coming out of the solutions of the potential problems so that is how the methodology of brainstorming was established since that moment.

Then the next methodology we have is the Problem inventory analysis. Wherein we go for obtaining new ideas and the solutions by focusing on the problem. It is a type of problem solution analysis wherein we are posing a problem and what are the possible alternatives for addressing that particular issue which is may be the minor aim. That individual’s case or that institutional case and we are trying to get the solutions of that. So this in one of the innovative methods known as Gordon method wherein developing a new ideas when the individuals are unaware of the problems. Obviously, when I am aware of the problem I have my own mindset to address that particular issue. But if such type of problem is posed to me for which I am not at all exposed to I cannot even think of how these problems are going to be existed and the solutions that I am getting is the outcome of the Gordon method and that is how it is one of the innovative method.

Then the forced relationship: This is another method of generating new ideas wherein the basic idea behind methodology of forced relationship is going for good number of combinations. It is just like the permutation, combination method or trial and error method wherein we are going for combination of good number things and we are trying to come out with best possible solutions.

Then the Heuristic is one of the traditional we can say. Wherein such type of methodology that existed since ages since centuries that we can say the things that are tested and trusted as a solution to the problem so even today we have good numbers of Heuristic solutions for the problems what the today’s society is facing. So we all going for popular healing methods like the allopathy but there are good numbers of proven methods in ayurveda which comes under this particular methodology but slowly now we are moving towards that because they are trusted, they are tested and they don’t have side effects. There are good numbers of advantages also. And our society had practiced all those things since centuries but for one or the other reasons we neglected them and now we are going back to that one that what is heuristic method.

Then last one is the Scientific method which is highly systematic so we are hanging over the problem so there is a set of researchers or the workers who are working upon that and coming out of the solutions and in between they can come out with good number of ideas. So these are some of the methods wherein we are coming out with good number of ideas and innovations.

Coming to how these ideas are incubated and how they can be commercialized. Just I am quoting here one example and there are many such institutions and the efforts from the government as well as non governmental agencies that are going on this direction in which I am quoting one. The Honey Bee network launched by Indian Institute of Management, Ahmadabad is working on this direction. So, this is an example with special reference to the agricultural innovations. What exactly the Honey Bee networking is doing? Basically, they are documenting the indigenous knowledge that is possessed by the local people. So that is how they are said that it is the grassroot level innovations. The grass root level people so they have an excellent solution for all the problems what the modern scientific generation is having. Maybe they have anticipated all these problems centuries back and they have sustainable solutions for the today’s problem also and that is how they are documenting and at the same time they are validating and at the same time they are commercializing also. For the purpose of commercialization and validation and its popularization an institution is established known as the National Innovation Foundation (NIF) in the year 2000 under the Department of Science & Technology, DST, GoI. The basic purpose of this National Innovation Foundation is strengthening the grassroots technological innovations and the outstanding traditional knowledge and to give them an appropriate shape, the institutional support for these things. At the same time the National Innovation Foundation is also providing the venture capital fund for agro based innovations. So we have a separate chapter of venture capital also but I thought this issue is appropriate here because here we are nurturing the innovations and here we are documenting, validating, popularizing as well as commercializing the innovations. So, far this particular foundation has documented 2,25,000 ideas from the grassroot level into itself, so which are having the potential of solving all modern problems related to agricultural allied sciences and as of 31st March 2016 as far as commercialization is considered they have received over 950 product inquiries from 108 countries. It means the demand is not only at the national levels the demand is at the international level also. So out of 2,25,000 ideas they have documented 950 ideas are in operation in the form a product, in a form of a commercialized products and you can see these range of products in the website of the National Innovation Foundation. You can expose yourself and you can have a better experience of how they are commercializing these products by going to based on these. And this is how there is an organized effort to document to generate the ideas, to generate the innovations and to preserve them and to commercialize them and to popularize them among the society.

With this we have discussed various issues associated with the innovation and commercialization of the ideas and in our next class we will be playing one more game which is known as the
“Entrepreneurship orientation inventory”. The entrepreneurship orientation inventory is an exercise basically to reveal what is going on in your mind. It has two basic elements that is the internal locus of control as well as external locus of control. How strong whether the internal or the external locus of control is that makes you an entrepreneur and that you will be experiencing in our next class.

Thank You.”>