Google is a company that believes deeply in entrepreneurship. And this is a company that believes deeply in the power of information. We don’t think there’s another organization that combines these two things in a more compelling way than Ashoka.
S. Rajagopalan
| Country: | India |
| Region: | Asia |
| Field Of Work: | Economic Development |
| Subsectors: | Appropriate Technology, Intellectual Property, Technology/Information Technology |
| Target Populations: | Businesses, Self-Employed |
| Organization: | Technology Informatics Design Endeavour |
| Year Elected: | 1993 |
S. Rajagopal's understanding of science and business enables him to rescue useful and profitable ideas from India's laboratories and then help small entrepreneurs to develop and market these ideas.
The New Idea
Presently, thousands of potential product ideas remain unused because both laboratories and small entrepreneurs lack the resources and skills to implement them. Potential entrepreneurs fail to see the opportunity to develop ideas into marketable products. Rajagopal provides the missing and crucial link between the inventors who have not realized the market value of their work and the small entrepreneurs who are eager for new products to promote.Rajagopal's organization, staffed by young entrepreneurs and business professionals, begins the process by examining unused prototypes and product ideas and analyzing their potential marketability. Once they determine that a product has promise, they undertake further research, develop, and test it. Rajagopal then introduces these potential products to small entrepreneurs and, together, they develop a profitable marketing strategy. Rajagopal's service is helping these small entrepreneurs to invigorate the Indian economy.
The Problem
India invests a great deal in its laboratories, but much of the research that they produce never results in actual products or services. Large industries can absorb the cost of product research and development, and eventually, product marketing. However, small entrepreneurs and midsize firms are missing two essential elements for the success of new products: resources and management staff.As a result, many innovative and potentially successful product ideas are being underutilized and largely ignored. In 1990-1991, for example, 500 patent applications for new products were filed, but only 200 of the products were ever marketed on a significant scale.
The Strategy
Rajagopal recruits a multidisciplinary team of young professionals engineers, scientists, economic analysts, and marketing agents to identify new products appropriate for the small entrepreneur. The team evaluates a number of promising ideas from the laboratories located near India's hightech city of Bangalore. Afterward, Rajagopal proceeds to develop and test the most promising of the products.The small entrepreneurs who benefit from the services pay a modest membership fee, but this does not fully cover the cost of product development and testing. Therefore, Rajagopal seeks startup funds from various financial institutions.