Interesting Post
Where Are India’s Innovative Companies, Products and Solutions?
India produces some of the brightest minds in technology, science and medicine yet has not demonstrated any truly large scale and breakthrough innovations in those fields. more here
I mean…..why NOT fill the gaps?
Latest posts by Pradyot (see all)
- Indian Entrepreneur Mindset - June 19, 2011
- Presentation on Innovation Engineering at SlideShare - April 4, 2011
- Entrepreneurs and VCs can use Innovation Engineering - February 5, 2011
I am sure we will soon have our own brand of innovation movement. But I wonder why many of our cash rich enterprises (barring a few like Glenmark, Lupin, ITC) are lagging behind.
Why not embrace the Skunk Works culture? Endow their organizational brain trust with sufficient financial and strategic resources so that there does exist headroom for trial and error. Allow heads and hearts to rule with no immediate ROI imperatives; and let those few pairs of hands have some creative rest. Be ruthless with silos and individual fiefdoms that discourage collaboration. I think one big mistake they all make is to load the CEO with innovation responsibility – he’ll make sure that he disrupts the disruptors because for him it’s an avoidable risk, a tyranny of outcome based `either’/`or’.
One sure way is to tie up with Universities and autonomous educational/research institutions and working closely with them. We can’t expect all this to happen with R&D budgets in balance sheets looking like rounding errors. Enterprises will have to take shareholders into confidence, urging them to look beyond a few quarters, if it were to get stretched. In cases of startup initiatives, early stage investors will have to be a bit charitable.
A bit too much to ask, huh 🙂
Completely agree with Mukul and Jaspreet.
India is JUGADU and thats the primary form of innovation in a disorganised market where a 1000 languages and sub dialects co-exist in cacaphony. I recently saw an interview where Edward De Bono was asked about the power of JUGAD and he nodded in the affirmative when explained what it meant. JUGAD when accompanied with increasing opportunity and a culture of upward mobility is a very powerful combination and as the eco system gets more organised, the multiplier effect will be evident. And hence Mukul, you are absolutely right that the definition of innovation is different in the Indian context.
My long response to it
I don’t agree a lot of it and doesn’t believe that number of patents is an indicator of Innovation. The term and concept “Innovation” can be different in different countries. “BlueLine Online” – an Innovation in United States might not be an innovation in India. Or might not be relevant in India at this point of time. I don’t think it’s lack of Venture Capital or Government Support. At lot of places market is not present in business models, which are proven in United States. Let me put some of the Innovation in India and some of these are almost irrelevant in US.
1.) SKS Microfinance – Microfinance business to lend amount as small as $100 to Individuals. AND MAKING MONEY – lot of VC money has gone into such companies. No bank in United States can work at such low levels of credit.
2.) Oxigen – It’s a chain of kiosks and retail stores which are used to collect cash from individuals and deliver services like Bus Tickets, Train Tickets, Utility Bills etc – India is a cash economy and internet penetration is less. It’s an innovation in Business Model and Microsoft has invested in it.
3.) mChek/Paymate – You can pay your utility bills, transfer money, top up pre paid card using mobile on a SMS. India has low GPRS connectivity and people love SMS. Totally irrelevant for US
And there are many more which can’t be thought by western thinkers. Does it mean that West lacks innovation? I suppose not. My small message is that Innovation is depended on user needs. And there are challenges I agree. India is very young on Angel Investing/ Venture Capital etc etc. But definition of innovation is different in Indian contest.
Patents are not a good way to judge innovation.
80% of developers at Druvaa have patents on their names. Total of 26 patents 🙂 And we know its all BS (bull sh*t)
Yes, i do agree that not much good stuff is coming out India. But take a look at – http://www.leadinvent.com and http://www.agami.com
Very soon you would hear from us on innovation front as well.
Patents are not a good way to judge innovation.
80% of developers at Druvaa have patents on their names. Total of 26 🙂 And we all know is BS (bull sh*t)
Yes, i do agree not much good stuff coming out India. But take a look at – http://www.leadinvent.com and http://www.agami.com
Very soon, you would hear from us on innovation front.