He was speaking on the occasion of Dr APJ Abdul Kalam IGNITE Awards ceremony held by held by National Innovation Foundation (NIF) at the Indian Institute of Management, Ahmedabad (IIM-A). The constructive use of these billions of minds can free the Indian society from numerous problems which we are facing today.

"These kinds of innovative programmes will help in realising the entrepreneurial goals identified through "Start-up India, Stand-up India" initiative launched by our Prime Minister", the President said.

The President said innovation is key to economic development and reflects the maturity of a nation and society to respond to the emerging needs and challenges. Complimenting the NIF for naming the awards after former president Dr APJ Abdul Kalam, Mukherjee said it is a fitting tribute to "a true Bharat Ratna".

Any innovation happening either at grassroots level or in the higher educational institutions must be linked to the industry for commercialisation, President Pranab Mukherjee said here today.

2015 instituted by the Department of Science and Technology, Government of India and the National Innovation Foundation on Monday at IIM, Ahmedabad.

He feels optimistic about the future when he sees the younger generation which does not want to live indefinitely with unsolved problems.

He said, "It (IIMA) must strive to be a beacon of knowledge, nurture other institutions with generous mentorship, and maintain a culture that blends the drive for excellence and performance with the spirit of collaboration and compassion..." For this to happen, I have been encouraging the institutes of higher learning to collaborate with the institutes and industry within India and overseas for creating a conducive ecosystem for nurturing innovation and research.

"Innovation, higher education and industry need to be closely networked for maximum benefit of the society".

Director of IIM-A, Ashish Nanda, said the idea of IIM is education and innovation.Nanda, while recalling his two visits to Rashtrapati Bhavan, praised the President saying, "He is really an education President".