Since investments in technology are considered to have a multiplier effect on the economy, the importance of investing in the right research and development (R&D), becomes imperative. On this, the Federation of Indian Chambers of Commerce & Industry (FICCI), in a pre-budget memorandum says, “To nurture new ideas and technologies through the early phase there is a need to create 2-3 National R&D Ideas Incubators (like the MIT Media Lab) jointly owned by industry and academia, along with centres of expertise. To de-risk and nurture disruptive technologies, critical cross-disciplinary research is needed bringing together experts from biology, chemistry, mathematics, computer science, data analytics, AI, physics, engineering, and industry mentors/start-up founders with an experience in commercializing technologies.”