The Eleventh India Innovation Summit 2015, organized by the Confederation of Indian Industry (CII), on 6-7 August, 2015 at Bangalore with “Realizing the National Dream: Scaling Local Innovation” as its theme. Mr. K Siddaramiah, Hon’ble Chief Minister of Karnataka, Inaugurated the two-day flagship event of CII. Speakers from different strata of the industry emphasized the importance of innovation for wealth creation, clean air and water, while highlighting the need for investing heavily in the digital ecosystem. Innovation has to be scaled up locally and nationally so that it benefits a larger population, as seen in the success achieved by many Indian startups. To spur Innovation in the country, CII plans to set up a Centre of Excellence for Startups to help entrepreneurs in Tier-II and Tier-III cities. CII will also aid startups by create business plans, tools and applications for rural areas.
During his Inaugural address, Mr. Siddaramiah, lauded the role of the Confederation of Indian Industry in the state government’s effort to boost industrial production besides promoting the aviation sector. The Chief Minister also acknowledged CII’s role in the framing of 2014-2019 industrial policy which sought to generate investments worth Rs. 5 lakh crore. Several recommendations made by CII had also been incorporated in this year’s budget, he said.
The chief minister who inaugurated the 9th and 10th innovation summits as well expressed confidence that this year the event would set even higher benchmarks. The fact that since its inception in 2005 the summit has been held in Bangalore underscored the importance of the city as the innovation capital of the country.
Karnataka, he said, had been in the forefront of Industrial Development and catalyzing innovation in the country’s growth story. “Our effort to promote innovation has helped in the establishment of a number of start-ups in the State. Today, Karnataka is at the fore-front in attracting startups” he added.
Ms. V Manjula, Principal Secretary, said that Karnataka had already set up a warehouse for startups. In addition incubation centers has been sanctioned to nurture student entrepreneurs as part of an initiative to ensure other cities and towns outside Bengaluru also benefitted from the government’s technology programs.
Earlier, Mr. S Gopalkrishnan, Past President, CII and Chairman, India Innovation Summit & Co-Founder, Infosys, said that the summit sought to focus on creating a wealthy, clean middle class India. Accordingly the key was to scale up innovation to impact a larger number of people with special focus on local innovation.
In this context, he said the CII was particularly keen to help scale up local innovation in Tier II and Tier III cities and the rural areas. As part of this exercise, it will set up Centre for Excellence for Startups which will help promote startups across India by creating business plans, tools and applications. CII will provide the needed help in terms of training and support where required particularly in places like Hubballi, Dharwad and Kalburagi, to name but a few. “CII has taken this as a major task and we are in the final stages of setting up the centre. We will house this centre at an appropriate city" he pointed out.
Mr. Mohan Shekhar, Senior Managing Director, Delivery Centers of Technology in India, Accenture, detailed on how innovation was shaping the future of businesses and the government, particularly, the state government. In this connection he also underlined the need for companies to embrace innovation as far as their workforce was concerned.
Speaking on “what innovation means to INDIA INC and how India is poised to become a global powerhouse,” he said ‘We must invest in human capital. The workforce has to be made digitally ready. “At the same time he emphasized the importance of investing in the digital ecosystem. The digital revolution, he added, was also reaching the consumer as businesses were evolving, bridging the geographical gap with a bouquet of services.
The power of innovation, he maintained, could not be undermined especially when it came to local adaptability, evidenced by the success of Flipkart, for one. That innovation has become inevitable in banking as well was clear from the manner in which the State Bank of India, is powering digital banking with an eye on the young clients.
Mr. Shekhar Viswanathan, Chairman, CII Karnataka and Vice Chairman and Whole-time Director, Toyota Kirloskar Motor Pvt. Ltd, said the presence of vibrant entrepreneur ecosystem is one of the key features of a developed nation and a critical enabler for finding local solutions to the regional problems of a developing nation. There is a major shift in the startup ecosystem in India in the last couple of years and majority of them focus on India as a market and create solutions to the unique problems of rural India.
You will get access to following Knowledge Resources by subscribing to the Digital
Library of this event.