Question : Case Study 15: Promoting Innovation
A group of engineers established a startup that designs and manufactures solar-powered water purifiers. They applied for government assistance under an innovation promotion scheme. Question:
How does the solar-powered water purifier contribute to innovation?
Option 1: By increasing the use of traditional water purifiers
Option 2: By reducing access to clean water
Option 3: By introducing a new and eco-friendly product
Option 4: By relying on non-renewable energy sources
Correct Answer: By introducing a new and eco-friendly product
Solution : The correct answer is (c) By introducing a new and eco-friendly product
The solar-powered water purifier represents innovation by introducing a new and eco-friendly product that utilizes solar energy for water purification. Innovation, in this context, involves the development and implementation of novel solutions to address challenges, and in this case, it involves using renewable energy to purify water in an environmentally sustainable manner.
The government's innovation promotion scheme focuses on:
Option 1: Discouraging new and innovative products
Option 2: Encouraging entrepreneurs to invest in outdated technology
Option 3: Supporting and promoting innovative ventures
Option 4: Limiting access to government funding for startups
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