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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:

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Option 2: Encouraging entrepreneurs to invest in outdated technology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


Team Careers360 2nd Jan, 2024
Answer (1)
Team Careers360 14th Jan, 2024

Correct Answer: Supporting and promoting innovative ventures

  


Solution : The correct answer is (c) Supporting and promoting innovative ventures

The purpose of an innovation promotion scheme is to support and promote innovative ventures. Such schemes are designed to encourage entrepreneurs and businesses to invest in the development and implementation of new and creative solutions, products, or technologies. The goal is to foster innovation, stimulate economic growth, and address societal challenges.

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