This article examines research and innovation in the country and presents a model on how to improve the linkages from research to marketplace. A splendid economic growth and a rising socio-economic disparity characterise the dichotomous story of India. Sustaining this growth, while ensuring equitable development, hinges on inclusive innovations and pervasive entrepreneurship. The country’s major challenge today is how to unleash the potential of many indigenous innovations through marketable products and services that have tangible social and commercial outcomes. A contextual assessment of the current enabling environment for innovation highlights the need for identifying the critical missing elements and reinventing to build a unique ecosystem that accelerates the transition from research to marketplace.