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India among top 5 destinations for innovation centres

Business Standard:  June 02, 2016

Pune: With technology disrupting businesses, it’s no more just about the pace of innovation. Sources of innovation are expanding rapidly too. Acvording to a study, India is becoming a new innovation destination of choice, doubling the number of innovation centres since July 2015 and seeing brands such as Apple, Airbus and Visa locate there.

The top 10 locations for innovation centres - with Silicon Valley, London and Paris holding on to the top three slots, Bengaluru entering for the first time straight in at number five, said a Capgemini report titled Digital Dynasties: The Rise of Innovation Empires Worldwide.
India has been rising in the ranks of favorite destinations to open innovation centres said the report. Capgemini’s previous research identified eight innovation centres in India in July 2015. India has since seen eight more innovation centres open their doors. Bengaluru has been the most favored city with four new innovation centres.

Digital has accelerated the pace and potency of innovation. No period in history has seen so many industries reinvented in such a short timeframe.

The list of disruptors is long: Uber in transport, Airbnb in travel, Tesla in autos, Amazon and Alibaba in retail, Netflix in entertainment. The list of victims is even longer. 52% of the companies on the Fortune 500 list in 2000 have since been bankrupted; bought or closed, said the report.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.