“Impossible is possible. Things might sound impossible, but you must be ready to take up the challenge and connect a team. Our youngsters are talented, and we need to inspire them,” said Prof. Ashok Jhunjhunwala after receiving the businessline Iconic Changemaker Award.
“Today, we have one million engineers graduating every year. Now, we have the numbers. With desire and will, students can learn and develop skills. Youngsters will learn if you challenge them,” he added.
Prof. Jhunjhunwala, a teacher, inventor, entrepreneur, and mentor, has helped transform the lives of millions over the last four decades. The IIT Madras Research Park and its subsidiary, the IIT Madras Incubation Cell, both of which Prof. Jhunjhunwala played a key role in establishing, stand as prime examples of successful academia-industry partnerships. Under his leadership as President, the Research Park has developed numerous cutting-edge technologies and given rise to over 300 start-ups, mentored by IIT Madras faculty.
Role of industry
“Industry should be able to harness the skills of youth. Industry and entrepreneurship must go hand in hand. Academic knowledge is used to train students, but it should also be applied to develop products. Only then will the industry have an option other than importing technology. Earlier, I observed very little interaction between industry and academia. I worked to bring them together, but achieving this was a huge struggle. Imported technology was unaffordable, and we can build our own,” he explained.
“Generations are getting brighter, and they are in large numbers. We have to motivate them and provide direction so they can conquer the world. Industry and academia must come together and take on significant tasks,” he emphasised.
It was Prof. Jhunjhunwala’s idea for mobile-to-mobile fund transfer, and the technology he developed for it became the foundation of the Unified Payment Interface (UPI), which today stands as a testament to India’s technological prowess on the global stage.
Academic knowledge is used to train students, but it should also be applied to develop products. Only then will the industry have an option other than importing technology.Prof Ashok Jhunjhunwala Teacher and Inventor