The current financing model builds businesses which may show short-term gains, but provide no long-term benefit to the economy or job creation
INVESTMENT IN NEW TECHNOLOGIES has always been risky. Older innovations like railways, canals, telephones, cars and airplanes, resulted in substantial losses to many investors. The uncertainty surrounding the projects, lack of understanding of the technology and unrealistic return expectations were all contributors. Recent technology investment cycles are similar, though there are additional risks.
First, the financing model has changed. Patient capital has been replaced with a focus on quicker returns.
Funding for scientific research has declined in real terms in many nations. Historically, government funding for research was important. Public money funnelled through the Pentagon helped develop the internet. A National Science Foundation grant seeded development of Google’s search engine. Public funded venture capital provided great societal benefits as well as large profits for private businesses. But increasing public finance pressures have reduced government funding.
This has resulted in research shifting focus to safer proposals that are more likely to receive funding rather than uncertain, but potentially groundbreaking, areas. Increasing reliance on corporate investment or sponsorship accentuates applied research rather than pure research. Crucial fundamental knowledge is now neglected. But quantum physics makes silicon chips possible, Einstein’s theory of relativity underlies satellite navigation systems and abstract mathematics makes computing and telecommunications possible.
Denne historien er fra February 16, 2018-utgaven av Forbes India.
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Denne historien er fra February 16, 2018-utgaven av Forbes India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet