RAKESH BASANT
THE BLACK BOX
Innovation and Public Policy in India
Indias Bestselling Business Books Series
IIM Ahmedabad Business Books
Contents
Advance Praise for the Book
This pioneering book is a must-read, not only for those interested in innovation policy in India, but also for those interested in understanding innovation and entrepreneurship in emerging economies more generally. A superb evaluation of policy in action, and the evidence on what works, what ought to but does not, but might yet do so in the future with some tweaking. R&D subsidies, tech transfer, incubators, patents, multinationals and human capitalthe coverage is comprehensive and the analysis penetratingAshish Arora, Rex D. Adams Professor of Business Administration, Duke University
For a policymaker, the broad policy perspective provided by the book is very refreshing. It not only brings out interesting insights on the conventional innovation policy instruments but also highlights the emerging role of policies that support creation of a vibrant ecosystem for innovation-driven entrepreneurship in high-tech areas. The discussion on technology business incubators, publicprivate partnership models for start-up financing, the role of higher education and mission-driven approaches to support innovation, is especially usefulK. VijayRaghavan, principal scientific adviser, Government of India
It is rare to find someone who has experience in teaching, research and early-stage investingthe author draws from his unique vantage point at the junction of all three. The importance of various policy instruments in building a vibrant entrepreneurial ecosystem in India cannot be underestimated. This book provides useful insights on the efficacy of policies that support incubators and accelerators in higher education institutions to foster innovation-driven start-ups. The author draws upon the learnings from his teaching and research at IIM Ahmedabad and CIIE, and also from the experience of Infuse Ventures, a fund created through a publicprivateacademia partnershipSanjeev Bikhchandani, entrepreneurinvestor
Over the last sixty years, an increasing body of research has enriched our understanding of innovation. Rakesh Basant combines his deep understanding of theoretical work in the field with empirical studies of innovation in India. The result is an invaluable book, one that is required reading for all those interested in innovation studies, Indian industry or economic policy. The Black Box is scholarly, engaging, lively and thought-provoking, all at the same time. A long-awaited book by one of our leading scholars in the fieldNaushad Forbes, co-chairman, Forbes Marshall
The Black Box is a patient and insightful tutorial on innovation and public policya compendium that is a must for all policymakers and innovation scholars, especially in India. It brings together a deep understanding of how the building of technology capabilities is enabled by governments and firms, and unravels the mysteries of development through technological innovation. It draws our attention towards the new role of higher educational institutions and innovation-driven start-ups in building a vibrant socio-economic environment in India. This is a timely book when policies have to be redesigned more sharply in the wake of massive technological changes that are happening around the worldPankaj Chandra, vice chancellor, Ahmedabad University
For
my father, Iqbal Narain,
who continues to be my benchmark for a liberal academic,
and
my teacher, K.K. Subrahmanian,
who introduced me to the economics of technology
List of Abbreviations
Alternative Investment Funds | AIFs |
Artificial Intelligence | AI |
Asian Development Bank | ADB |
Bank of India | BoI |
Biotechnology Industry Partnership Programme | BIPP |
Build-Own-Operate | BOO |
Business Model Innovation | BMI |
Centre of Excellence | CoE |
Centre for Innovation, Incubation and Entrepreneurship | CIIE |
Centre for Monitoring Indian Economy | CMIE |
Corporate Social Responsibility | CSR |
Council of Scientific Research | CSIR |
Defence Advanced Research Projects Agency | DARPA |
Department of Energy | DoE |
Department of Industrial Policy and Promotion | DIPP |
Department of Science and Technology | DST |
Foreign Direct Investment | FDI |
Foreign Exchange Management Act | FEMA |
Fund-of-Funds Scheme | FFS |
Global Innovation Index | GII |
Government of India | GoI |
Gross Fixed Capital Formation | GFCF |
Higher Education Commission of India | HECI |
Higher Education Institution | HEI |
Human Resource Development | HRD |
Indian Council of Social Science Research | ICSSR |
Indian Institute of Management Ahmedabad | IIMA |
Indian Institutes of Management | IIMs |
Indian Institutes of Technology | IITs |
Industrial Credit and Investment Corporation of India | ICICI |
Information and Communications Technology | ICT |
Institutes of Eminence | IoE |
Institutes of National Importance | INI |
Integrated Circuits | IC |
Intellectual Property Rights | IPR |
International Finance Corporation | IFC |
Investor Advisory Committee | IAC |
Jawaharlal Nehru National Solar Mission | JNNSM |
Just-in-time | JIT |
learning-by-doing, by-using, and by-interacting | DUI |
Machine Learning | ML |
Micro, Small and Medium Enterprises | MSME |
Ministry of New and Renewable Energy | MNRE |
National Action Plan on Climate Change | NAPCC |
National Innovation System | NIS |
National Institutes of Health | NIH |
National Research Foundation | NRF |
National Science Foundation | NSF |
National Skill Development Corporation | NSDC |
National Skill Development Fund | NSDF |
Plant Breeders Rights | PBR |
Private Equity | PE |
Products, Processes and Practices | 3 Ps |
Protection and Utilization of Public Funded Intellectual Property | PUPFIP |
Public Funded Intellectual Property | PFIP |
Public-Private Partnership | PPP |
Public-Private-Academia Partnership | PPAP |
Purchasing Power Parity | PPP |
Quality Function Deployment | QFD |
Renewable Seed | REseed |
Research and Development | R&D |
Science and Engineering | S&E |
Science and Technology | S&T |
Scientific and Technologically-based Innovation |