Adding Entrepreneurship to India’s Science, Technology & Innovation Policy

Ragini Chaurasia, Mitrasen Bhikajee

Abstract


Science, Technology & Innovation Policy (STIP) is an important policy instrument particularly in the developing countries. India also has recognized the role of science, technology and innovation in development as early as 1958 but still trails behind its peer Brazil, China and the Asian tiger Singapore. Considering strong correlation between research and development investment and growth based on existing studies, this paper brings forth the present situation of India in investment and its influence on the performance of the economy vis-à-vis the three countries. This paper studies the STIP 2013 in detail and reports the contribution of the Department of Science and Technology in India. The main conclusion of this paper is the recommendation for incorporation of “entrepreneurship” in STIP based on global best practices, which can be achieved by government’s involvement as a venture capitalist to seed and support innovations, increasing transparency and incorporating entrepreneurial curriculum.


Keywords


entrepreneurial policy and education; growth; India; private sector; government as venture capital; STIP

Full Text:

PDF


DOI: http://dx.doi.org/10.4067/S0718-27242016000200009



Copyright (c) 2016 Facultad de Economía y Negocios, Universidad Alberto Hurtado

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

2017 © Universidad Alberto Hurtado - Facultad de Economía y Negocios. 
Erasmo Escala 1835 - Santiago, Chile.
Economic Analysis Review | Observatorio Económico | Gestión y Tendencias 

Journal Supported by Chimera Innova Group