"Innovation distinguishes between a leader and a follower." While Steve Jobs intended these powerful words for a class of graduating individuals, the global status quo shows us that this is also descriptive of national-level trends. The countries which innovate are often the ones who primarily steer the direction of global affairs.
While India did achieve a milestone of being ranked 3rd among the lower middle-income countries in the Global Innovation Index (Gil) 2020, it is a still an innovation laggard in the overall global setting, coming at 48th position behind China (14th) and some ASEAN countries such as Malaysia (33rd) and Vietnam (42nd). Patent applications continue to be concentrated within a handful of countries such as the US and China, while India remains a relatively marginal contributor.
Perhaps it is time we look towards foreign models and absorb their characteristics. The most hackneyed example in this regard is Silicon Valley. Numerous articles and studies have already explored how Bangalore or other parts of the nation can become the next Silicon Valley.
Nevertheless, this recurrence is largely justified. What makes the Valley so enticing is how it is the all-rounded result of a strong education system, a vibrant risk-taking culture, productive competitiveness, and the espousal of foreign talent. There's a lot of things that the Valley had to get right to be the global innovation centre that it is now.
But a fundamental takeaway from the American model which is often unexplored is the relationship between freedom and innovation. A beacon of liberty, America has ensured that the freedom to think, create, and produce for the masses is protected by its democratic frameworks. Educational institutions enjoy great autonomy which facilitates research, and the ease of doing businesses ensures that ideas-to-companies can be seamlessly executed.
There are other also interesting cases that provide further precedents for India's innovation journey. Israel, despite having a population of just 9 million, is famously known as the "start-up nation" that boasts the highest start-ups per capita. The proactive role of the Israeli government in providing incentives and forging public-private partnerships forms the basis of Israel's start-up engine. Another stand-out of Tel Aviv's start-up ecosystem is its cultural take on risk management. Failure isn't viewed pessimistically and is accepted as a cultural norm.
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