Building Innovation Based Economy

Building an Innovation-Based Economy

In this age of exponential technology development and relentless globalization, innovation and entrepreneurship have become the prime drivers of economic growth. Measures to build an innovation-based economy,  One such measure is the establishment of technology business incubators to nurture nascent ventures by providing focused counselling and facilitation services together with smart workspace.

Technological innovation is the process that drives a concept towards a marketable product or service. It Contributes towards raising productivity and competitiveness — the engines of economic growth. Competitiveness is the state achieved at enterprises by wise decisions on the use of factor endowments, within an environment of supportive policies, sound infrastructure and domestic/international rivalry.