BENGALURU: Karnataka is an incredible state with exemplary achievements in the startup sector, and should lead the way in formulating Intellectual Property (IP) policy for the country, said prominent scientist and former Director General, of the Council of Scientific and Industrial Research (CSIR). He added that Karnataka is a knowledge capital and centre for innovation, but for the next leap in growth, the state has to make efforts to move from innovation-led incremental growth to exponential growth.
The scientist was speaking at the 3-day Bengaluru Tech Summit 2023 on Friday. He also recommended that startups should change to “a game-changing ethos”. Dr Mashelkar added, “The ladder of excellence has no limits and companies have to learn to lead, not by leapfrogging but by pole-vaulting.”
Speaking to young and veteran entrepreneurs at the event, Dr Mashelkar said there are six principles for startups to follow for ‘assured’ success, making offerings that are ‘affordable’,easily ‘scalable’, make the business ‘austainable’, the product or service offered should be universally accepted. It should have a ‘rapid-to-market’ strategy with ‘excellent’ features and have a ‘distinctive’ business idea.
Lauding Karnataka for its contribution to the Indian and global markets, the scientist stated that the state is an “amazing 40 per cent state”. “It hosts 40 per cent of the global capability centres (GCCs), 40 per cent of India’s software talent, 40 per cent of unicorns, and is responsible for 40 per cent of exports.”
Speaking on India’s capability to become a global power in tech, he explained that India has the highest intellectual capital per dollar, which is the reason Indian innovation is taking the world by storm. He cited the example of the National Chemical Laboratory becoming an International Consulting Organisation within a year, and India’s UPI innovation clocking over 74.05 billion transactions in 2022. Achieving a big feat by making 46 per cent of the world’s transactions just by Indians.