How Do We Institutionalise Innovation in Our Country So That We Can Tap at the Vast Intellectual Potential of This Nation?

Innovation promotion starts with the education process. The teachers have to promote thinking and creativity among students. The teachers should become facilitators of self-learning rather than providing answers to all the questions. In this respect we should learn from our Upanishads which says ?Neti, Neti? meaning that it is not the answer. Through this process the individual will be forced to make continuous search for the right answer. We have to promote entrepreneurship among students which means he should be able to take well considered calculated risk. This will promote creativity among the entrepreneurs. System should also be fault tolerant since when you take risk there can always be problems and failures. Our banking system must provide venture capital to innovators without the ?tangible asset syndrome?.