GRASSROOT INNOVATIONS TO CREATE JOBS

Ever wondered why Britian or USA even for that matter China have reached today where few tread....coz they capitalised on Oppurtunities when they propped up or created one for themselves. Britain harnessed Ist Industrial Revolution; USA 2nd Industrial Revolution and China embraced 'Mass Entrepreneurship' to drive Productivity Improvements.

In the instances mentioned above, prosperity was not driven by few visionary entrepreneurs but was result of many innovations small and large driven by millions of people empowered to develop and market innumerable new products.

 The evidence that entrepreneurship and inventions were not elitist activities is compelling. Just to name a few....Richard Arkwright, inventor of water driven spinning frames was an illiterate son of a tailor; James Hargreaves, an illiterate weaver, came up with the idea of multi-spool spinning machines; James Watt, the famous inventor of steam engine, was the son of a shipwright and George Stephenson, who invented the locomotive was an illiterate too.

In USA, John Fitch, who developed a steam boat was a farmer, while Issac Singer of the Singer Sewing Machine fame barely tinkered with schooling. Even celebrated inventor Thomas Edison was from a humble family and self educated, so was Steve Jobs who was put up for adoption at birth and dropped out of school....and the list is endless.

I'm putting forth an idea that Ordinary people often without formal education have come up with solutions to mundane everyday problems in an exemplary manner and in the the process creating fortunes through a business model that is powerful and empowering one.

Unemployment is a challenge that almost all world economies are facing and Grassroot innovations have the potential to create jobs. Therefore, Is entrepreneurship the panacea for the job creation and the way forward? Comments solicited.

#entrepreneurship #innovations #opportunity #inventions #business #motivation #education #jobs #credits Edmund Phelps