Now a days we are witnessing various innovations happening around the world. While some believes that the reasons behind innovations are making money, most of them, including myself, agreed that local and environmental issues should be resolved by the innovation. Bothe the view points are discussed in the further paragraphs.
There is no denied in that the many innovation developments have been happening with a view to earn money out of them. All the multinational firms are investing their scientific resources and financial assets into the research and development or to breakthrough some new innovation which can help them to grow their business two folds. For example, SpaceX is trying to breakthrough the space engine technology so that country like USA, Canada and Australia would approach SpaceX to launch their space missions. Eventually, there will be great financial profit as countries pay the fees to launch there space mission through privet companies like SpaceX.
However, many people thinks that the first priority of doing innovation should be focusing on solving social and environmental problems. Despite concentrating on the earning huge profit from the innovation, developments should take place to resolved the local and environmental issues like traffic and increasing level of pollution. There are many private and government organized financial supporting schemas which will help the innovators to financially support if they are creating something which can help to solve the environmental problems. Apart from that, many incentives are provided by the educational organizations to students to innovate something that would resolved the social issues.
In conclusion, I firmly believes that the innovations first priority should be resolving the local and environmental issues rather than thinking about the return of investment from the developments. As there are many government and privatization firms who can provide financial assistance for inventions.