Integrate Policy Makers, Business Leaders & University Administrators to Foster University-Enterprise Relationship: Infoholic - NASSCOM Research Reveals

Introducing a practical component in technical curriculum will create an enabling environment

According to a joint study by Infoholic Research and NASSCOM on Innovation & Academia, it reveals that 78% of the surveyed universities agree that industry-academia convergence will lead to a better entrepreneurship ecosystem. Overriding impediments at every stage, the academia is creating intelligent and innovative start-ups every year. They are also focusing to invest resources on research with practical acumen. Collaborative models between industry and academia in line with Public Private Partnership (PPP) would further help solve real-world problems.

With the joint initiatives in place, apt policy directives would fast-track the collaborative effort. This would assist in developing technology start-ups that address productivity, cost, operational and implementation issues of the customers. Here, the role of an incubator is prominent - to assist start-ups in co-branding at Industrial expos, Summits, and Conferences.

Change in societal thinking and encouraging value creation at the school level will further raise India's innovation quotient at par with global best.

KR Sreenivasan, CEO and Founder, Infoholic Research

To solidify the "Make in India" concept and practically implement the Prime Minister, Shri Narendra Modi's vision that "The mega Corporations of today were Start-ups of yesterday", innovation centres and academic incubators are aggressively converting innovations into job-creating commercial products. They are arranging hackathons, playing host to start-up weekends, and arranging seminars and workshops to propel the innovation scenario.

"Change in societal thinking and encouraging value creation at the school level will further raise India's innovation quotient at par with global best", points KR Sreenivasan, CEO and Founder, Infoholic Research.

Institutions are broadly facilitating resources along with mentorship and providing indirect support provided to the industry as a part of their collaboration efforts. Few of such institutes include the IIIT Bangalore, Mepco Schlenk Engineering College, Pimpri Chinchwad College of Engineering, SJB Institute of Technology and PES Institute of Technology and Management, Shivamogga. On the other hand, active participation to associate with industry and consistently troubleshoot for industry-related problems are observed from the IITs, Pune Institute of Computer Technology, M.S. Ramaiah Institute of Technology, Annamalai University, NITTE University, Vemana Institute of Technology and The Oxford College of Engineering, to name a few.

93% of Institutions are continuously looking to collaborate with enterprises with an aim to generate wealth, employment and create social good, whereas 89% of them want to undertake the role of an incubating platform. Currently, in India, academia has been at the forefront of innovation with over 90 Institutes having an active Incubation Center. This can further be enhanced by setting up technologically advanced laboratories, developing science and technology parks and promoting joint research programs.

India is well poised in the start-up scene, but there are many opportunities that have not yet been realized. Until now, IIT Madras has successfully incubated 148 start-ups and filed 126 patents in 2016-17 alone. Interestingly, IIT Delhi has filed over 600 patents till date and handled 384 development projects. The research also indicates that 70% of the surveyed institutions have successfully filed one or more patents. "Developing domain-specific ecosystem at the national level along with ease of doing business and adequate funding will pave the way ahead for India", sums up Sangeeta Gupta, Senior Vice President, NASSCOM.

About Infoholic Research: Infoholic Research is a global market research and consulting organization based in Bangalore, which provides research and market intelligence to customers in emerging and untapped markets, and also across niche technology verticals. Established in 2014, Infoholic has catered to custom requirements of many Fortune 500 companies with a strong focus in ICT, Semiconductor & Electronics, Chemicals, and Healthcare domains. Besides our flagship syndicated and customized market research reports, and go to market services, we span across a spectrum of consulting services which is aimed to serve any of the research requirements such as market entry strategies, competition tracking, M&A support, customer profiling, concept testing.

About NASSCOM: NASSCOM is the industry association for the IT-BPM sector in India. A not-for-profit organization funded by the industry, its objective is to build a growth led and sustainable technology and business services sector in the country. Established in 1988, NASSCOM's membership has grown over the years and currently stands at over 2,500. These companies represent 95 percent of industry revenues and have enabled the association to spearhead initiatives and programs to build the sector in the country and globally. NASSCOM members are active participants in the new global economy and are admired for their innovative business practices, social initiatives, and thrust on emerging opportunities.

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Infoholic Research LLP
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Source: Infoholic Research LLP