Soumitra Dutta Is the Name, Innovation Is the Game

Innovation and new-age technologies are far different if you compare its progress in developed countries against developing countries. Of course, countries that have peaked in development also witness innovation booming as opposed to countries that are still in the developmental stage. Reasons are pretty obvious, developed nations have the infrastructure and resources to carry out new innovations that can not just drive businesses but can also be optimized for the welfare and betterment of our environment. On the other hand, in cases of underdeveloped countries, because their economy may be facing a crisis, the government just cannot afford to allot a budget, as their priorities vary. Soumitra Dutta, former Dean of Oxford Said Business School, also a researcher, when attending the Sixth Brazilian Congress of Innovation in Industry, was persistent in his views that even if a nation is facing economic recession or an imminent political crisis, that must not stop the government from encouraging private sector companies to invest in innovation.

Soumitra Dutta may have residences in several parts of the world, but what interests people more is his profile on ResearchGate that also states his entrepreneurial experience. He was more than happy to voice his opinion on the Global Innovation Index, something that he is proactively contributing towards. This index helps identify countries and rank them based on their degrees of scientific and technological progress among countries. When asked about what world leaders need to do in order to stay at the top of the index, Soumitra replied, “Countries like Switzerland and Norway invest in the entire innovation chain. That means having research institutions, human capital, and good quality infrastructure, all of which must be strong and well coordinated. These are countries that have excellent universities that also maintain robust partnerships with the private sector. Furthermore, those countries are committed to attracting talent and have a very sophisticated market, including a well-developed financial market. These elements need to work harmoniously and their efforts should dovetail. If Brazil is to reduce the gap between it and the rest of the world, it must invest more in its research institutions and, at the same time, in infrastructure.”

Soumitra Dutta asks other leaders to draw inspiration from India, who have fallen on the index, managed to bounce back following a change in the government, and renewed environmental policies that have helped the country improve its ranking since 2015.