Speakers call for stronger R&D push, innovation at CII A.P. conclave in Tirupati

The State has potential to enhance its R&D investments and build a stronger research and innovation ecosystem through coordinated efforts by involving the industry, academia and startups, said Hanumanthu Purushotham, Secretary, Department of Science, Technology and Innovation, Government of Andhra Pradesh.

Speaking at the third edition of the ‘CII A.P. Innovation and R&D Conclave’ conducted here on Thursday, he said the need to significantly strengthen investments in the fields of research and innovation. While the developed economies invested substantially higher proportions of their GDP, India’s spending on R&D remained at a mere 0.7% of the GDP, he observed.

The department is working out on a new Science, Technology and Innovation policy for Andhra Pradesh to strengthen the State’s research and innovation value chain, he said.

CII A.P. Chairman Narendra Kumar called innovation as an important driver of industrial competitiveness, economic growth, productivity, employment and global market opportunities. “We must create stronger partnerships between large industries and startups, where the industry can provide real-world challenges to which the startups can develop innovative technology solutions”.

Dwelling on ‘Research to revenue’, M. Krishna Teja, CEO, Ratan Tata Innovation Hub (RTIH), encouraged entrepreneurs to leverage the infrastructure, mentorship and ecosystem support available through RTIH, adding that startups emerging successful from hackathons and innovation programmes could access funding opportunities of up to ₹2 crore.

Unni Krishnan, Managing Director, Saint Gobain India Private Limited, discussed topics like early identification of technical opportunities and risks, process engineering, performance optimisation.

A.P. State Quantum Mission Director Sridhar C.V. highlighted the growing momentum around quantum technology in the State and called upon entrepreneurs and industry leaders to participate in the Amaravati Quantum Valley initiative.

IIT-Tirupati Director K.N. Satyanarayana, CII Tirupati Chairman S.P. Rajendra, CII-A.P. former Chairman D. Ramakrishna, digital technology consultant Sunil David were among the participants.