Innovation Is The Way Forward
Talking about startups as the hubs of innovation and India’s digital push, Shri Basavaraj Bommai emphasized that innovation is the key to development in today’s rapidly changing world. He went on to say that the penetration of data has helped India’s digital push. This in turn has allowed for large-scale innovation. Necessity is the mother of invention and as we progress our necessities increase, and so do our desires to create and acquire. He believes this desire is the starting point of innovation.
At the recent BW Businessworld Unicorn summit, he spoke about science and spirituality as two sides of the same coin. As per him, spirituality will lead to innovation in science, and innovation in science will lead to further spiritual thinking. “I am a student of economics and philosophy. Both are poles apart and their core values are different. Economics is all about profit and loss whereas, philosophy is about the meaning of life. I think paradoxically, and find philosophy in economics and vice-versa. That, I believe, brings about a new way of thinking. Startups are spiritual whereas, the status quo is not. Hence, the need of the hour are startups and the innovation they bring,” he said.
The Bangalore Focus
Shri Bommai pointed out that Bangalore has been at the forefront of startups. Presently, there are over 13,000 startups in the city alone. The city also has the highest number of world-renowned R&D centers. “Bangalore cannot be compared to any city as it has the highest number of unicorns, startups, and IT hubs,” he said. He stressed that the business policies, the ease of doing business in Karnataka, and the fact that the state is leading the way in renewable energy are crucial to the support of these startups. The state is committed to making the ecosystem conducive to startups.
Agri Startups Lead The Way
According to Shri Bommai - Agri startups are the key to the development of our country. Even though the contribution to the Gross Domestic Product (GDP) has reduced - the number of people employed in agriculture is higher than in any other industry. Innovations in this field, such as product developments, and integrated farming systems have advanced, and also digital marketing of farm products has begun, which will certainly give the sector a boost. He further pointed to the fact that crop development and farm management have changed for the better. Fisheries, poultry, and sheep rearing along with milk production are creating a lot of opportunities. He believes that Startups can add immense value to the sector.
