Innovation is often viewed in a technical sense. Whom has the best technology and the cheapest, at that. Technology is an efficient gauge of innovation in a country, but it is unfortunately the only aspect that many people look at when making that judgement.
Social innovation is also a clear and important aspect of a country's prestige. The way in which a society spends and distributes services and public money is a very important part of improving a country and its society.
A prime example of this is with Australian Prime Minister Malcolm Turnbull. He is expected to pledge $15 million for business start-ups, which adds to the total $1.1 billion innovation fund in the country. His idea of funding start ups has caught much momentum in the effort to innovate the way in which government spends its money.
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Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.