What and where is innovation in India?
by Thiyagarajan Maruthavanan (Rajan)
Contrary to most popular belief startups may not neccessarily mean innovation , it certainly could be a business( a good one maybe). Simillarly a product may not be equal to innovation and some cases it could be a good business too.
Of late I have seen more noise than substance about innovation in the Indian context and this thought has been nagging for quite some time and recent attendance to proto just confirmed that. While on the one hand it is true venture capital supply demand is skewed but to my mind there are not enough innovative technology startups so to speak of.
As usual my yardstick is an economic one and not one based on financial ( read balance sheet) metrics or either coolaid factor in a new technology. I think we should really tune down the volume of noise about innovation in technology space.
While till few months ago we had an acute problem of not having enough avenues to bring forth innovation to the forefront but now with many events, mainstream media and blogs bridging that shortage and providing a showcase platform the problem has really shifted to the other end with no real innovation existing out there to showcase. I think the part of the problem is that maybe entreprenuers are not thinking big. I am willing to extend this notion a bit further and say that there is no incentive to innovate on technology front as the market may not be yet rewarding them.
To speak of innovation in India, I think it is coming from different sectors , as usual in the services( including IT/KPO services) industry maybe , financial industry, infrastructure space but not from the technology space as one would expect.
I did not make many resolutions for the year 2008 and already have broken the few that I made but I am going to pledge that I am going to walk out of any discussion/meet where the words ‘Innovation’, ‘Community’ , ‘Value creation’ & Mobility is going to be used where the group discussing this has no idea of what these words are.