In his talk, Prof Natarajan pointed out that merely finding something which already exists in nature generally does not qualify as an invention and it is essential that an adequate amount of human ingenuity, creativity and inventiveness must be involved in the exercise. Invention which is a new and inventive solution to a technical problem could lead to the creation of an entirely new device, product, method or process or may simply be an incremental improvement to a known product or process. To invent the future it is essential that what one is doing creates genuine value preferably by meeting needs instead of wants or redesign things that already exist to create new meaning.
One must also keep in mind that innovation is the translation of the invention into a marketable product or process. Successful innovation depends on anatomy of surgery of three vital questions: what is desirable to users, what is possible with technology and what is viable in the market place. In this context it is worth recollecting the quote of Steve Jobs of Apple “Innovation distinguishes between a leader and a follower”. A true leader is one who undoubtedly knows the way, goes the way and shows the way. Innovation is what keeps an organization ahead of competition facilitating the expansion of market share.
Unlike the past, many innovations nowadays are complex and are based on a number of patented inventions, which may be owned by different patent owners. Hence, to carry out an innovation successfully, a good knowledge of the patent system is a must which ensures that the company draws maximum benefit from its own innovative and creative capacity, establishes profitable partnerships with other patent holders and avoids making unauthorized use of technology owned by others.
Prof Natarajan concluded his talk stating that when the going gets tough in the economy, it is entrepreneurs who keep the economy going and urged the students to take up entrepreneurship in the right spirit and become job providers instead of job seekers.
For more details about Shridhar University Pilani, see http://www.shridharuniversity.ac.in
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An initiative of the Sarvhit Trust, Shridhar University Pilani has been established under Section 2(f) of UGC Act 1956 incorporated by Government of Rajasthan vide Ordinance No. 3 of 2009 and the same ratified by the Rajasthan Legislative Assembly vide Act No. 4 of 2010 as The SHRIDHAR UNIVERSITY ACT BIGODNA, JHUNJHUNU. Further, Vide letter F.No 8-3/2010(CPP-