Innovation Framework for Excellence in Higher Education Institutions

Innovation is now emerging as an “Asset” in current global health scenario caused by pandemic, so higher education institute (HEI) should put high value primium on this asset, i.e. innovation, and with the passage of time, the intervention and demand of innovation in higher education cannot be undermined. In this context, it is very important that the real understanding of the process of innovation is highly desirable. Knowledge-driven economy has established its roots globally and with the passage of time, it will grow as banyan tree. The challenges before higher education institutions (HEIs) is to train the people to the highest level of efficiency, creativity and entrepreneurship. HEIs have to choose between being globally distinct and the best vs. enormous and the largest. The biggest challenge before HEIs is financially self-reliance as the government and research funding is very scarce and it will further decrease in the coming time. Innovative solutions will be in demand and the new primium currency of the future. Public objectives in teaching and learning process embedded with innovation must be supreme. In this paper, an innovative framework is emphasized for HEIs for their academic excellence. Triple helical model is no longer sufficient. HEIs have to think and add more dimensions to their innovative functioning which make them efficient and environment friendly. The objective of this study is that the HEIs should become globally distinct and competitive, by creating their own distinct products, services and related processes which proposed high value to their customers and stakeholders for their economic robustness and sustainability in flexible mode.