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How to foster a culture of innovation

LiveMint logoLiveMint 29-03-2017 Suranjana Roy

New Delhi: Innovation may not be the forte of every entrepreneur, but everyone must understand its importance and build an ecosystem around it.

“The purpose should never be that everyone must become an innovator at the end of the day, but everyone must understand the ecosystem around their business and try to build something out of it,” said Gourav Jaswal, founder and director, Prototyze, an incubator that claims to turn ideas into businesses.

Speaking at EmTech India 2017, the Mint-MIT Technology Review conference on emerging technology in New Delhi 9-10 March, Jaswal said Prototyze is working in that direction.

“I thought at some point that it would be a great idea to set up an incubator, which is what Prototyze is all about,” Jaswal said.

“We invest and venture out into several start-ups and build their business models,” he added.

Based in Goa, Prototyze has incubated nine companies belonging to sectors as varied as automobiles and fintech.

Jaswal said that in the long run, entrepreneurs who can manage the risks associated with their business models and learn from their experiences will be ones who will be successful.

According to Jaswal, a genius is someone who can “replicate an existing, successful model with excellence”.

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