Experts Urge Attention to MSMEs and Grassroots Innovation

At the 14th edition of the Entrepreneur Summit 2024 held at Bharat Mandapam, Subhransu Sekhar Acharya, CMD of the National Small Industries Corporation (NSIC), highlighted the importance of the MSME sector, including start-ups, as the key provider of employment for millions. He emphasized that the agriculture sector, while employing 50% of the workforce, contributes only 18% to the economy, revealing significant hidden unemployment. Acharya stressed the need for grassroots-level innovation and wealth creation, extending beyond just tech start-ups to any businesses improving existing products or processes.Prof. Mukti Kanta Mishra, Founding President of Centurion University, spoke about how the university, located in a remote tribal area, fosters an innovative environment for entrepreneurship. Due to its isolation and lack of industry support, the institution integrates innovation into its educational system, focusing on creating job creators rather than job seekers. Mishra pointed out that innovation isn’t just about new inventions, but scaling and adapting existing ideas.Rahul Kulshreshtha, from the Office of the Principal Scientific Adviser to the Government of India, added that the focus should be on sustainable development goals (SDGs), emerging technologies, and social impact technologies, underlining the need for a broader approach to innovation across sectors.