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The Five Characteristics of Successful Innovators

There is not much agreement about what makes an idea innovative, and what makes an innovative idea valuable. For example, discussions on whether the internet is a better invention than the wheel are more likely to reveal personal preferences than logical argumentation. Likewise, experts disagree on the type and level of innovation that is most beneficial for organizations. Somestudiessuggest that radical innovation (which does sound sexy) confers sustainable competitive advantages, butothersshow that “mild” innovation – think iPhone 5 rather than the original iPhone – is generally more effective, not least because it reduces market uncertainty. There is also inconclusive evidence on whether we should pay attention to consumers’ views, with somestudiesshowing that a customer focus is detrimental for innovation because it equates to playing catch-up, butothersarguing for it. Even Henry Ford’s famous quote on the subject – “if I had asked people what they wanted, they would have said fast…

Naidu announces setting up of medical devices manufacturing park

The Park will house a common manufacturing facility centre to act as a hub for the SME sector enabling it to flourish as a cluster. The exact location of the park is yet to be decided.

The Andhra Pradesh State Government has in principle decided to develop a dedicated 200-acre industrial park for manufacturing of medical devices.

Chief Minister N. Chandrababu Naidu said the Park will house a common manufacturing facility centre to act as a hub for the SME sector enabling it to flourish as a cluster. Though the Government was yet to zero in on the exact location of the medical devices park, the focus of the facility would be on creating an eco system for manufacture of high-end medical devices with an eye on the export market.

This was announced by Chief Minister N. Chandrababu Naidu at a meeting with the representatives of Association of Indian Medical Device Manufacturers (AIMED) during his recent visit to New Delhi. The decision comes after the association was able to impress upon Mr. Naidu about the “tremendous sense” in housing such a facility.

The AIMED Forum coordinator and Hindustan Syringes & Medical Devices joint managing director Rajiv Nath explained to the Chief Minister about the criticality of such a facility that would go a long way in ensuring industrial development and employment generation in the State. The medical device industry, according to Mr. Nath, was worth over Rs. 60,000 crore with the import bill of the segment amounting to over Rs.23,000 crore and exports contributing to Rs.7,000 crore.

The country’s import dependence for high-end medical devices was over 80 per cent while it was close to 70 per cent in respect of other devices. This was where a dedicated medical devices park would be of great value in reducing the import dependence and at the same time, generating employment and wealth within.

“We are extremely thankful to the Chief Minister for recognizing the opportunity and taking a quick decision. This will give a big boost to import substitution,” he said adding creation of the park would provide an opportunity to the State to increase its industrial foot print. Mr. Naidu, he said, assured the AIMED representatives that he would personally address issues relating to implementation of the assurance and provide needful policy support.