Influence of societal, financial, and additional elements shaping a culture focused on innovation in India
The Confederation of Indian Industry (CII) has launched a qualitative study to examine the importance of exposing Indian children to innovation and its impact on their potential to become innovators. The report, titled "IMPACT OF SOCIAL, ECONOMIC AND OTHER FACTORS IN DEVELOPING A CULTURE OF INNOVATION", aims to shed light on the various socio-economic factors that influence innovation in India and proposes policy-level incentives for young inventors.
The report emphasizes the significance of a conducive ecosystem for nurturing young talent and addressing disparities in access to innovation. Not all children have equal access to innovation exposure, leading to a disparity in representation among different demographics. To address this issue, the study analyses factors such as family financial status, gender parity, and other relevant elements driving a child's motivation to innovate.
In India, socio-economic factors studied to understand children's exposure to innovation and its impact on their innovation potential include the socio-economic status of families, access to education—especially in STEM (science, technology, engineering, mathematics) fields—and social conditions affecting knowledge and action competencies, social belonging, and health influences, as well as social power relations impacting resource availability and social participation opportunities. These factors are analysed to identify children who could benefit from targeted educational and social support to foster their innovation capabilities.
The report highlights the importance of early exposure to innovation for young innovators, particularly girls. Developing an innovative mindset early in life significantly enhances the likelihood of these skills persisting into adulthood. Encouraging children to learn from role models who embody the traits and skills essential for innovation can have a lasting impact on their career choices and success. Role models play a pivotal role in a child's developmental learning stage, significantly influencing their interests and aspirations.
The U.S. study by Bell et al. indicates that the environment in which children grow up, including socio-economic background and exposure to innovation, influences their likelihood of becoming inventors. Observational learning, where children emulate behaviours they see in others, underscores the importance of positive role models. Hands-on learning and project-based education are important for fostering innovation and creativity in children.
The surge in startups, rapid product development, and increasing patent filings in India signal a new era of innovation. India's potential for innovation is significant, as indicated by its rising status in the Global Innovation Index. However, addressing wealth disparity to provide equal opportunities for innovation is crucial. The report aims to create an ecosystem that encourages innovation for all, contributing significantly to solving global challenges.
Through this study, CII aims to understand these disparities and suggest recommendations to promote a more inclusive and innovative future for India. The detailed report can be found at "IMPACT OF SOCIAL, ECONOMIC AND OTHER FACTORS IN DEVELOPING A CULTURE OF INNOVATION".
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