Sibal calls for innovation fund in the ASEAN region | india | Hindustan Times
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Sibal calls for innovation fund in the ASEAN region

Union Minister of Science & Technology and Earth Sciences calls for creation of a innovation fund in the ASEAN region, reports Satyen .

india Updated: Nov 06, 2006 20:24 IST

Union Minister of Science & Technology and Earth Sciences, Kapil Sibal on Monday gave a call for creation of a innovation fund in the ASEAN Region for R&D to solve the problems of the people of the region.

Addressing the Twelfth Technology Summit and Technology Platform here organized by Confederation of Indian Industry,Department of Science and Technology and ASEAN in New Delhi on Monday, he said although science may be universal and location neutral, technology and innovation are not so. 

The social context of our part of the world are very different from those in the Western countries.  Thus solutions for many of our problems lie within our own boundaries as our scientific, technological and entrepreneurial potential are huge. 

To realize these, we need to spearhead amongst ourselves a movement of sharing and partnering that will create a new value for our own people much beyond what we could do individually.  Thus, the need for collaboration in the area of human ability development, especially in the emerging knowledge intensive sectors is imminent. 

While it is undoubtedly the individual firms that capture and realize the benefits of innovation for the nation, it is the national innovation system that nurtures and disseminates technological change, he added.

For economic success in countries of this region ,he said there was need for  setting up effective market and non-market mechanisms for interaction between science base and business sector & between public and private sectors, competitive markets that are stable and devoid of barriers to trade; a culture of networking and collaboration among firms and other actors at regional, national and global levels; mobility of personnel across organizations and borders.

Underlining  the importance of innovation in the knowledge economy, the Malaysian Minister  for Science, Technology and Innovation, Dr Jamaluddin Mohammad Jarjis,  said the knowledge economy is the driver of new initiatives, creativity,  diffusion of technology, modernization and technology for the  people.

An MoU between the Department of S&T and CII on Global Innovation &Technology Alliance  also signed on the occasion.

Speaking on the occasion Mr Ong Keng Yong, Secretary General of ASEAN  stressing  the need for collaboration between India and ASEAN, he said innovation is a priority and this is where India can find  advantage, by helping ASEAN’s newly developing countries with its technology.