Empowering Innovators: Profits Will Follow

Finance Minister Nirmala Sitharaman advises young innovators to focus on innovation rather than profitability at IIT Dharwad. She emphasizes government support for incubation and hand-holding initiatives. She notes that innovation precedes profit, calling for combined support from investors, mentors, and regulatory partners in achieving commercial viability.

Union Finance Minister Nirmala Sitharaman has encouraged young innovators to prioritize the development of their ideas over immediate profitability, assuring them that profits will come once their products reach commercialization.

Speaking at the inauguration of the dhaRti BioNEST Incubation Centre at IIT Dharwad, Sitharaman highlighted the government's commitment to supporting innovation through incubation and mentoring mechanisms.

The minister stressed that innovation should not be hindered by concerns of profitability or regulatory compliance, advocating for a collaborative effort from investors, mentors, and regulatory bodies to guide innovators towards financial success.