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 India has the highest intellectual capital per dollar which is the reason Indian innovation is taking the world by storm said acclaimed R.A. Mashelkar, Former Director General, Council of Scientific and Industrial Research (CSIR).

Addressing a plenary session at the Bengaluru Tech Summit 2023, the prominent leader and innovation specialist cited the example of National Chemical Laboratory becoming International Consulting Organisation within a year and more recently, India’s UPI innovation which clocked over 74.05 billion transactions in 2022, which is 46 per cent of the world’s transactions.

“Our UPI is now being accepted in Bhutan and Singapore too, which speaks of the ground-breaking attitude of our people,” he said.

Mashelkar spelt out six principles for start-ups to follow for assured success.

“Make offerings that are affordable, easily scalable, make the business sustainable, the product or service offered should be universally accepted. It should have a rapid-to-market strategy with excellent features and have a distinctive business idea,” he said.