Nurturing Growth through innovation

Innovation has lost its face in upcoming globalization, due its efficacy in converting the idea to identifiable products. The imperfaction in the market machanism does not allow the innovator to turn their ideas into profitable business. Often the big businesses turn to innovators to germinate and take advantage of such ideas. The increase in the design competitiveness shows uneasy practices, lacking support to the budding enterpreneurs who are from the Small and Medium industries and onslought of the big leaders. Often the external markets does not reponse to such innovation unless the product itself is taken with mega investment and convert the small idea into big within very small time.

The capital intensive investment and lack of confidence of the financial institution on the innovators is due to declining risk taking abilities of such institutions and organisations. The established businesses and ideas take priority over the new and innovative ideas. Yet people like late steve Jobs could measmerise give the size of capital owned by him and Microsoft leveraging on the ideas or just buying the young companies killing and taking over the innovation at the initial stages.

Such a march of capital in the countries like India and its developed states like Gujarat should be taken as warning to the small and medium enterprises, struggling to innovate or simply following the large enterprises for thier business channel. Its always risky given the share and command of these large industries over the segments, like auto giants would risk and poorly compensate their illfated decisions to their channel supplier mostly SMEs and innovators vying for eye of mega industries. Such a situation and associated risks are never transfered to mega industries as SMEs would have desired, thus killing any desire to think new and big.

The creation of entry barrier now by state in assisting the mega industries, kills the nurturing process of SMEs instead they become scape goat in the globalised economies. The watch dog regulatory bodies would take little action to manage the affairs.