October 15, 2025

Union Finance Minister Nirmala Sitharaman brought a wave of inspiration at IIT Dharwad on Tuesday! She urged young innovators to put all their energy into making new ideas, rather than worrying about making money right away. “Young innovators, your core business is to keep innovating. Profitability comes only when you reach the stage of commercialising and scaling up your production,” she told students at the new dhaRti BioNEST Incubation Centre. Sitharaman made it clear that the hunt for profits should not block the bright minds of youth. “I would not want any confusion in the mind of a young innovator about when he will become profitable to hinder the sharp intellect with which he must continue innovating,” she said. She reminded everyone that innovators’ main goal is to create amazing, society-changing solutions, not to get caught up in business hassles or regulations early on. The minister called for teamwork: investors, mentors, and regulators must come together to help innovators reach the stage where their ideas turn into money-making products. She explained, “I would want a system, and I think the government is very favourably inclined to keep supporting innovators. But, of course, you will reach a stage where you can make your profit.” On a big-picture note, Sitharaman pointed out that India is shining bright in keeping and attracting skilled talent. Thanks to a push in startups, research, and tech innovation, the country is at a great turning point. “The scope for retaining-or, in my words, attracting-that skill and knowledge is now growing in India, and therefore retaining and attracting talent should now be possible for us,” she said. She also praised how quickly India has boosted fintech in the last seven to eight years. With around 87% digital adaptability in payments, compared to only about 60% globally, “Fintech is being accepted by people and scaled up by them in India,” she added. The dhaRti BioNEST Incubation Centre, a joint effort by dhaRti Foundation and IIT Dharwad, is backed by the Biotechnology Industry Research Assistance Council (BIRAC) and funded by Sitharaman herself through her Member of Parliament Local Area Development Scheme (MPLADS). This centre will pump life into the biotech startup scene in North Karnataka, helping research-based entrepreneurship bloom. So the message is clear: Dream big, innovate freely, and let the government and ecosystem help polish those dreams into shining realities!

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Tags: Nirmala sitharaman, Innovation, Startups, Iit dharwad, Bionest, Government support,