A few years ago the city of Bangalore global headlines thanks to President Obama. In May 2009, when, in a bid to the U.S. labor market a boost, Obama tax incentives for American companies outside work, rather than creating local jobs removed, his slogan, "Buffalo [New York] for Bangalore. " Obama reflects popular public perception when he chose Bangalore to highlight. A few years before his speech, the term "Bangalored" - meaning be submitted as a result of outsourcing - in the lexicon.
Indeed, over the past few decades, Bangalore is seeing a steady makeover. Catch the success of its thriving information technology and business process outsourcing (BPO) industry, the city the "IT capital of India" and even the world known as the "back office." Bangalore now has another purpose: the Innovation Hub of Asia. This was the theme of the recently held India Innovation Summit 2011 organized by the Confederation of Indian Industry (CII) in the city. Several speakers at the event pointed out that this goal is rooted in current realities. Bangalore is already home to a large number of technology companies, both within the country and all who have relocated from around the world, and some of the world's leading edge technology work done from there. For many multinational companies, GE, Cisco, Intel, Yahoo, 3M and others, their research and development in Bangalore is one of the largest in the network. With India as
one of the fastest growing economies in the world with a large market, many global innovations by multinational companies are now in the land. According to Praveen Vishakantaiah, president of Intel Technology India, "the research and innovation capacity is present in the DNA of Bangalore. Over the past decade, the development there have ramped significantly. It is now time for the research element to push" But Ajay Nanavati, managing director of 3M India, pointed out that for innovation to grow, there must be a lot more interaction between the different companies. "What we have right now is a silo-ed approach," he said. "Everybody is busy in their own little universe." Stronger industry-academia interactions, well-defined IP protection policy and a broader and deeper talent pool are other aspects to be investigated, he added.
But it's not all that Bangalore needs if it wants the mantle of Asia's Innovation Hub Don.The city's infrastructure - roads, power supply and transportation system - all a great and urgent need refurbishing. For example, the city's power supply limitations. Vivek Mansingh, president of the collaboration and communications group at Cisco Systems, commented: "We have thousands of square meters of laboratory space, but we do not have enough power to bring more jobs here." In terms of transportation gridlock, Bangalore ranked sixth in IBM's most recent global Commuter Pain Index, conducted in 20 cities.
Sridhar Mitta, IT industry veteran and founder of the NextWealth Entrepreneurs, said researchers from Stanford University in 2000, concluded that "what distinguishes Silicon Valley is not the scientific progress and technological breakthroughs, but the overall habitat or environment tuned to turn ideas into products and get them quickly to the market through start-ups to create. "
So what does the government say? Addressing the audience at the conference of the CII, DV Sadananda Gowda, the Chief Minister of Karnataka (Bangalore is the capital of the state of Karnataka) was categorical that "The government is committed to supporting all initiatives necessary to promote innovation. "
Now it remains to be seen as the government and other stakeholders will walk the talk.
Indeed, over the past few decades, Bangalore is seeing a steady makeover. Catch the success of its thriving information technology and business process outsourcing (BPO) industry, the city the "IT capital of India" and even the world known as the "back office." Bangalore now has another purpose: the Innovation Hub of Asia. This was the theme of the recently held India Innovation Summit 2011 organized by the Confederation of Indian Industry (CII) in the city. Several speakers at the event pointed out that this goal is rooted in current realities. Bangalore is already home to a large number of technology companies, both within the country and all who have relocated from around the world, and some of the world's leading edge technology work done from there. For many multinational companies, GE, Cisco, Intel, Yahoo, 3M and others, their research and development in Bangalore is one of the largest in the network. With India as
one of the fastest growing economies in the world with a large market, many global innovations by multinational companies are now in the land. According to Praveen Vishakantaiah, president of Intel Technology India, "the research and innovation capacity is present in the DNA of Bangalore. Over the past decade, the development there have ramped significantly. It is now time for the research element to push" But Ajay Nanavati, managing director of 3M India, pointed out that for innovation to grow, there must be a lot more interaction between the different companies. "What we have right now is a silo-ed approach," he said. "Everybody is busy in their own little universe." Stronger industry-academia interactions, well-defined IP protection policy and a broader and deeper talent pool are other aspects to be investigated, he added.
But it's not all that Bangalore needs if it wants the mantle of Asia's Innovation Hub Don.The city's infrastructure - roads, power supply and transportation system - all a great and urgent need refurbishing. For example, the city's power supply limitations. Vivek Mansingh, president of the collaboration and communications group at Cisco Systems, commented: "We have thousands of square meters of laboratory space, but we do not have enough power to bring more jobs here." In terms of transportation gridlock, Bangalore ranked sixth in IBM's most recent global Commuter Pain Index, conducted in 20 cities.
Sridhar Mitta, IT industry veteran and founder of the NextWealth Entrepreneurs, said researchers from Stanford University in 2000, concluded that "what distinguishes Silicon Valley is not the scientific progress and technological breakthroughs, but the overall habitat or environment tuned to turn ideas into products and get them quickly to the market through start-ups to create. "
So what does the government say? Addressing the audience at the conference of the CII, DV Sadananda Gowda, the Chief Minister of Karnataka (Bangalore is the capital of the state of Karnataka) was categorical that "The government is committed to supporting all initiatives necessary to promote innovation. "
Now it remains to be seen as the government and other stakeholders will walk the talk.
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