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Globally Companies are rethinking their approach to innovation in emerging markets. Rather than see them as low-cost destinations for basic research, they now view these economies as fundamental to product development for both East and West. Recognizing the importance of Innovation, Govt. of India has declared, this decade as the decade of Innovation. The Ministry of Science and Technology is promoting innovations through various schemes such as Technopreneur Promotion Programme (TePP), now renamed PRISM; technology business incubators under Science and Technology entrepreneurship Development scheme; Drugs and Pharmaceuticals Research; Innovation Clusters; Small Business Innovative Research Imitative (SBIRI); Biotechnology Industrial partnership Programme (BIPP); open source drug discovery (OSDD) projects and grass root innovations through National Innovation Foundation. Government of India has announced increase of weighted deduction for expenditure incurred on scientific research and development from 150 per cent to 200 per cent by companies in an approved in-house research and development facility and weighted deduction for contribution to approved entities for the purpose of scientific research from 125 per cent to 175 per cent. 2010-20 has been declared as the decade of innovation. The scale of intervention will build upon the pioneering work done by various arms of the Government and also at the same time value add to the innovation ecosystem.
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Most big business start with an inspiration and/or a dream, and you may have an intent on getting it off the ground as soon as possible. At the beginning, this process could seem daunting. But if each of the process step is defined and executed meticulously, you'll be well on your way to a successful enterprise.The initial seed capital used to start a business is often difficult part of the initiation process.. Seed capital often comes from the company founders' personal assets or from friends and family, but more often than not this capital is not enough. The amount of money is usually relatively small because the business is still in the idea or conceptual stage. Such a venture is generally at a pre-revenue stage and seed capital is needed for research & development, to cover initial operating expenses until a product or service can start generating revenue, and to attract the attention of venture capitalists. It is at this scale up stage timely availiblity of capital becomes critical