Entrepreneurship Talk at Shridhar University Pilani - Invent the Future and Innovate

The youth of India today firmly believe that future indeed belongs to those who believe in the beauty of their dreams and are aware that Information is just bits of data while Knowledge is putting them together and Wisdom is transcending them.

Even a small business, or for that matter any top ranking business, can indeed invent the future by staying true to their own vision with the customer in mind. Addressing the students and faculty members of "Way To Transform" Shridhar University Pilani Rajasthan on 16 February 2012, Prof Natarajan Pro Vice Chancellor gave a clarion call to foster entrepreneurial culture referring the quote "The Best way to predict Future is to Invent it" attributed to Alan Kay the Computer Scientist who is well known for his contribution to OOP and GUI.

In his talk, Prof Natarajan pointed out that merely finding something which already exists in nature generally does not qualify as an invention and it is essential that an adequate amount of human ingenuity, creativity and inventiveness must be involved in the exercise. Invention which is a new and inventive solution to a technical problem could lead to the creation of an entirely new device, product, method or process or may simply be an incremental improvement to a known product or process. To invent the future it is essential that what one is doing creates genuine value preferably by meeting needs instead of wants or redesign things that already exist to create new meaning.

One must also keep in mind that innovation is the translation of the invention into a marketable product or process. Successful innovation depends on anatomy of surgery of three vital questions: what is desirable to users, what is possible with technology and what is viable in the market place. In this context it is worth recollecting the quote of Steve Jobs of Apple "Innovation distinguishes between a leader and a follower." A true leader is one who undoubtedly knows the way, goes the way and shows the way. Innovation is what keeps an organization ahead of competition facilitating the expansion of market share.

Unlike the past, many innovations nowadays are complex and are based on a number of patented inventions, which may be owned by different patent owners. Hence, to carry out an innovation successfully, a good knowledge of the patent system is a must which ensures that the company draws maximum benefit from its own innovative and creative capacity, establishes profitable partnerships with other patent holders and avoids making unauthorized use of technology owned by others.

Prof Natarajan concluded his talk stating that when the going gets tough in the economy, it is entrepreneurs who keep the economy going and urged the students to take up entrepreneurship in the right spirit and become job providers instead of job seekers.