A framework for commercialization of grassroots innovations

Abstract

Indigenous technological innovations play a real game change in the lives of common people. Grassroots Innovations are essentially technological solutions generated by common peoplei for the problems they face in their day to day activities. These solutions are simple and cost effective since they are made by people who are affected by it and hence have the potential to serve the society at large but the sad part is that not many grassroots innovations get diffused through commercial success. Most of the innovations need financial impetus for the success. The grassroots innovations mostly come from the innovations that fill the gap between the available technology and need of the people. These innovators do not have sound financial background and are not in a position to scale up their innovations to enterprise level due to lack of skills; access to network; technology and so on. Also most of the time innovators do not have the financial capacity set up enterprise. Loan facility is not available because of lack of credit; guarantee; co-lateral for mortgage as necessary criteria for banks. Most of the innovators develop product prototype for own use but do not consider setting up an enterprise as an option due to lack of expertise and know-how about the same. President of India, Pranab Mukherjee rightly said on Seventh Biennial Grassroots Innovations Awards - “I realize that unless financial support is available at an early stage of risky innovative ventures, the aspirations of thousands of creative people will remain unfilled. We have to collectively ensure that no idea remains unattended for want of sufficient support. Unless NIF begins with the incubation of two to three thousand ideas, it will not get those few hundred potentially viable leads which may eventually generate twenty to thirty breakthroughs in the market place. We need to work collectively to ensure that all potential ideas are exploited in the larger national interest.”ii