Innovation, entrepreneurship for equitable growth: Rosaiah
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Last Updated: Friday, October 29, 2010, 22:58
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," he said.

"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 Business (ISB).

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 entrepreneurs.

ISB Dean Ajit Rangnekar said infrastructure facilities like Railways and Roads and also Education to make India a world leader in entrepreneurship and industry.


First Published: Friday, October 29, 2010, 22:58

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