“Problem solving, technology and entrepreneurship so hand in hand” Dr. V Premnath
Nishant Malhotra (The Middle Road) interviews Dr. V Premnath. Dr Premnath Venugopalan is the Co-founder and Director of the Venture Center, the largest inventive enterprises incubator in India. He is also Head NCL Innovations, NCL and Head IP group. A leading global technocrat, entrepreneur and inventor, Dr Premnath is a technology development and innovation “Guru” with specialty in commercialization of high-end technological products and entrepreneurship. Well-read and educated, Dr Premnath has a PhD from Massachusetts Institute of Technology, US, and B.Tech. from the Indian Institute of Technology – Bombay. He is also served as a Chevening Technology Enterprise fellow for a year at the Center for Scientific Enterprises, London Business School, and Cambridge University. Dr V Premnath is a prolific inventor and has many patents to his name.
Inventor at heart, he holds many patents especially in polymeric products and co-inventor of cutting-edge technology, Ultrahigh Molecular Weight Polyethylene (UHMWPE) commercially used in hip transplants. He is also the founder of C SIR-Tech Pvt Ltd, Orthocrafts Innovation Pvt Ltd and BioIMed Innovations Pvt Ltd. An avid sport enthusiast, Premnath represented Indian Institute of Technology – Bombay in hockey.
We discuss the game-changing role of American and UK universities in driving innovation, key proactive reforms of Modi’s government with a focus on the umbrella initiative NIDHI (National Initiative for Developing and Harnessing Innovations), various collaborations of Venture Center with all actors within the entrepreneurship ecosystem, among others. An insightful, riveting, and kick-ass discussion that serves as an enabler in driving social impact here.
Dr. V Premnath mentions his vision in driving robust tech-led ventures through the Public-Private Partnership model at the incubator. The influence of American and European Universities is indelible enablers of innovation and entrepreneurship. They have diverse streams ranging from literature, philosophy, engineering, sciences, and arts to share a well-rounded experience of academia and practical hands-on experience to develop an intellectual property-rich ecosystem.
Our conversation leads to universities in-house incubators/accelerators example, The Engine at MIT, US, and biotechnology push in the United Kingdom by Cambridge University. Further, the role of enabling social innovation by the universities, epitomized by Prof C K Prahlad erstwhile thought leader, social change game-changer, and Prof at Ross Business School at the University of Michigan, Ann Arbor. Watch the interview here.
Singapore, Scandinavian countries among other countries, is successfully churning innovation and technology-led enterprises through universities. India, under the umbrella initiative NIDHI NIDHI-Promotion and Acceleration of Young and Aspiring technology entrepreneurs (NIDHI-PRAYAS), is a welcome initiative in finding gems at a very early stage at Indian technology institutes. However, India must also focus on all facets of startup ecosystem and build leading global universities with well defined streams in art, literature, philosophy etc. apart from science and engineering.
We discuss the difference between incubator and accelerator programs to understand a holistic overview of key drivers within the startup ecosystem. The chat shares an in-depth analysis of developing a world-class technology and engineering focused incubator and its lasting influence in catalyzing enterprises across a gamut of industries, including social ventures which serve customers at the bottom of the pyramid.
The interview is a deep dive into all facets of building not only a leading global knowledge led incubator but also a measured overview for all actors within the social and business ecosystem especially wannabe entrepreneurs.