Hyderabad: Andhra Pradesh Chief Minister
K Rosaiah on Friday said the promotion of innovation and
entrepreneurship was essential to ensure a broad based and
equitable growth in the country.
"While India is undoubtedly poised to become a leading
economy in the coming years, it is still marred by growing
socio-economic disparity that could as well pose a threat to
the economy and society at large. If we aspire to sustain the
progress of the country, the nature of the growth needs to be
fundamentally changed to become more balanced and inclusive,"
"Such broad based growth shaping a stronger, more
prosperous and far equitable nation can only be propelled by
innovation and entrepreneurship" he said.
He was addressing `TiE-ISB Connect 2010`, an annual
networking event for entrepreneurs and investors, jointly
organised by TiE-Hyd and the city-based Indian School of
He stressed the need to ensure that direct economic
benefits of innovations help in serving public interest.
"The scientific glory and prestige is in vain unless the
direct economic benefits and public good of the innovations
are realised. We need to strengthen and scale up efforts to
promote identification, developments, commercialisation and
discussion of indigenous innovation that emanate beyond the
traditional boundaries of academia, research institutions and
industries," he said.
The Andhra Pradesh Government has taken several steps to
build a conducive atmosphere for innovation on
entrepreneurship through holistic policies and pragmatic
approaches, the Chief Minister said.
He appreciated ISB and TiE for their efforts to promote
innovation and entrepreneurship.
Speaking on the occasion, J A Chowdary member of Board of
Trustees of TiE Global urged the state government to provide
soft funding of about Rs 10 crore annually to the
ISB Dean Ajit Rangnekar said infrastructure facilities
like Railways and Roads and also Education to make India a
world leader in entrepreneurship and industry.