Techno-entrepreneurship in India Through a Strategic Lens

Abstract

The accelerator of the engine of the economy of the nation significantly depends on the extent of successful entrepreneurship and its continuum of perpetuity. India is moving toward a transforming economy even though agro and allied sectors remain to be the activity of majority of the population. But in terms of contribution toward GDP it caters around 17%, while manufacturing and services sectors retain around 29 and 54%. This indicates there is a need of comprehensive transformation of our priority toward technology-based entrepreneurship or in short techno-entrepreneurship. According to Global Entrepreneurship Index (GEI) 2018, India stands 68th position among 137 nations of the world, while it is a matter of great disgrace that the country ranks at 134th in terms of its achievement toward technology absorption. This focuses that India predominantly needs a serious thought over promoting, incubating and progressing technological ecosystem so that substantial techno-entrepreneurship can be created, motivated and finally implemented. The process of acquiring IPR instruments is quite lengthy and suffers from typical bureaucratic red-tapism. On the contrary, there are remarkable differences in Indian patent system and international patent system. All these issues contribute delay, diffusion and dilution of on-time recognition of intellectual property rights for our researchers, scientists and technologists. This paper has attempted to understand and explore the ease and access of techno-entrepreneurship in India. The study has also encountered the legitimacy and appropriateness existing patient or IPR policy in India and how it can be merged with global standards. The research work is based on secondary information collected from various reliable sources along with in-depth understanding of global as well as Indian legal framework circumfering IPR issues. The study would enable the researchers and policy makers to rethink for appropriate policy reforms in this emerging area of innovation and techno-entrepreneurship primarily for the research and development of the country.