OVERVIEW AND MISSION
The India Innovation Institute (III)at the University of Toronto is a joint venture of the Munk School of Global Affairs and the Rotman School of Management. It is designed to be a hub of excellence for researchers across the university and around the world who are interested in research on Indian innovation. It is the only institute of its kind anywhere in the world.
WHAT WE DO?
Focusing on innovation from India can be important for couple of reasons. First of all India is a global Innovator, and by 2050 it is expected to grow to be the fifth largest economy in the world with average household income matching that of most western nations. The population of the country is expected to grow to 2 billion by then, making India one of the most populated countries in the world.
India is still facing problems such as chronic poverty, global climate change, energy dependency and eroding health and welfare for which solution have not been found. Although these issues are global, local innovation is the key to solving them. Great ideas, more often than not, emerge in a local setting and ideally we would like these ideas to be adopted globally.
Innovations in India are bound by economic, social, political and cultural constraints; also Indian innovations need to be frugal to succeed. For example “Narayan Hospital” provide affordable and quality healthcare to the poor. It is a combination of high quality medical knowledge and an astute business sense of providing health care to the needy. Another example is “e-Choupal” a service that involves installation of computers with internet access in rural areas of India to offer farmers up to date marketing and agricultural information.
The India Innovation Institute is trying to provide a platform for research on similar sort of innovation through several case studies, CEO summits and Lecture series. Currently the Institute is focusing primarily on developing case studies on innovation stories like the “Narayan Hospital,” the “Aakash tablet” and “e-Choupal”.