Venture Capitalist
Conventional models of mass diffusion of technologies, products and services have essentially been “Trickle Down” in their approach. Mostly technologies are matured considering the needs of the buyers who can afford to pay for the huge front-end R&D expenses. This is true particularly in case of private enterprises, where economic bottom-lines are sacrosanct. On the other hand, public sector R&D in a country like India has not been able to deliver quality and quantity as expected due to several structural bottlenecks. In the process, technological needs of large cross-sections of society particularly those in developing nations are mostly not met and, if met, not adequately either in terms of proper functionality, affordability or so on. Even if sufficiently suitable technology was developed, it was not able to penetrate beyond a minimal level, except for a few examples of success in certain private, public and non-government organizations.
The long term sustainability of this model and worldview is limited because of a fundamental disconnect between the cost economics, knowledge systems and institutions at the grassroots level vis- -vis those existing in the formal sector. It is therefore imperative that future sustainable growth, both economically and ecologically, will happen when the formal sector plays the role of a facilitator for the evolution, development and dissemination of products and services based on grassroots innovations and indigenous knowledge systems. Key Characteristics of Grassroots Innovations :Innovations:Grassroots technological innovations by definition are need-based, simple, cost-effective and sustainable. The possibility of these technological solutions addressing local constraints in an effective way is reasonably high, simply because these solutions originate from someone who has first-hand experience of the issues involved. On the other hand, given the lack of financial and technical resources present with the grassroots innovators, many grassroots innovations are rudimentary and limited in terms of design. The experience of NIF shows that quite often people at the grassroots develop solutions without any or with very limited external assistance. The magnitude of demand also varies depending on how widespread the need is, how important the element of regional specificity is and so on. This describes the challenges and opportunities for grassroots innovations.
In essence, these innovations address the key needs of grassroots consumers, which have not been met or satisfied by the existing Trickle-Down products and services. Hence, there is ample scope for wealth creation by linking grassroots need-based technologies with formal sectors technical & commercial knowledge, to make them scalable and commercially attractive.
Can I search grassroots innovation based enterprises which are seeking early/later stage funding?
NIF will be glad to provide you information about the enterprises seeking early stage or later stage funding from external sources.
visit the link for details http://www.nifindia.org/bd/product_list
There is an advance search engine to select technologies based on the criteria;
- Search as per phrase given by you
- Patent status i.e. patent granted, pending, design registration
- Regional consideration based on the source of innovation
- Based on the 18 categories of technologies (http://www.nifindia.org/bd/product_category)
- Technology status i.e. ready to market, idea/concept, prototype development, testing & validation, market testing
Or else write to us at info@nifindia.org, bd@nifindia.org
For off line mode, please use address;
National Coordinator- Business Development
National Innovation Foundation (NIF)
Visit us at www.nifindia.org
Bungalow No.1, Satellite Complex, Jodhpur Tekra,
Premchand Nagar Road, Ahmedabad- 380015
Epabx: 91-079-26753501, Ph: 91-079-2673 2095/456
Fax: 91-079-26731903
What are the NIF’s success stories of technology and commercial incubation?
NIF has been able to transfer technology for 16 technologies. Some examples of wealth creation based on grassroots innovation could be read on the link:
http://192.168.0.123/cranti_bd/success_stories
What is the existing due-diligence framework NIF follows for short-listing innovations?
NIF exercises due diligence on all investment proposals it receives from its associates i.e. GIANs, GIAN cell and others.
The general criteria for innovations to be taken up for commercialization would be;
- The enterprise shall be based on an ‘Accepted’ innovation by NIF.
- The technology should have foreseeable market demand and good commercial potential as per the assessment of NIF or any third party recognized by NIF.
- Entrepreneur/s should be competent; shall have sound track record / previous experience in running business/ technical or commercial expertise.
