The Startup India Action Plan was a highly appreciated move by the Government of India to promote startups and entrepreneurs in a country of more than 1.2 billion. India doesn’t lack the brains, all it lacks it proper infrastructure to support the talent.
According to a new report by Capgemini Consulting, a global strategic and transformation consulting major, and Altimeter, India has topped the list in Asia in terms of the number of innovation centres. This means out of 48 Asian countries, India has been ranked the highest.
India has also been ranked at No. 2 for new innovation centres in the world. Apple opened its offshore development centre in India this year, Oracle opened 9 incubation centres in India, while Amazon and other major technology companies plan to open more centres in India.
A total of 9 innovation centres have been opened in India in 2016, which takes the total upto 25, highest in Asia. Globally, the US leads the list with 146 centres, 33 centres opened this year, followed by the Great Britain with 29 and India is at third place with 25 centres.
Silicon Valley of India, Bengaluru, has been the favourite destination for all such technology companies, while cities like Hyderabad, Pune and Jaipur also topped the list and were the most preferred destinations.
India has been rising as a favourite destination for opening innovation centres because of the sheer volume of talent and resources. The Government has also been very supportive of such developments. A lot of companies are also looking to open startup accelerators in India to boost entrepreneurship.
Most of these innovation centres have simple objectives of finding new technologies, improving the existing ones, develop certain tactics to combat the current technologies in place and most importantly, innovate in every space.
According to the report, “Current priorities shared among innovation centres focus on digital technologies such as big data, internet-of-things (IoT), social media, mobile, robotics, augmented reality and 3D printing.”
Other than India, Japan and Singapore emerged as the other major innovation destinations, as Tokyo and Singapore combined saw the largest increase in such centres in the last year. Asia as a whole saw the largest increase in opening of innovation centres, more than Silicon Valley alone.
The Government regulations have also been eased out in India to allow more foreign companies to invest in the country and their own technology. This helps boost the economy of the country, as well as allows companies to utilise the talent in India.
Source: CapGemini
