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State of Indian Innovation

Taking off from where Bernard Lunn left. [Alok’s comment here]

There is no doubt this is the period Indian companies need innovation. And IT companies have onus on them to take the lead. For years, IT companies have used some of the best Indian talents for their purposes, for years they have got tax breaks and other incentives to operate their businesses and they are at the cutting edge of technology. In effect, they have everything that would need to start a tech revolution: talent, opportunity and resources.

The reality however is that Indian IT companies are services companies and just don't have the mindset of product companies. Fortunately lots of new companies are now breaking the mould. The catch - "new companies."

This recession however offers the IT Biggies firms a huge opportunity in terms of developing products. IT firms should become Incubators and give the producers & creators the "upside". The 'Upside' the greatest driver. IT companies have been ridiculously holding off the upsides from the creators of the products, hence they do not have any bottom-up innovations. The successful cases are more exceptions than rule and do not justify the millions of software talent.

As Bernard rightly puts it, if you put few talented guys in the same room and give them free food and broadband, they could change the world. Instead of retrenching and cutting jobs, what IT companies need is to change their mindsets and offer these talented people an opportunity to help IT companies survive and thrive.

With the world giving shape to Web 2.0 and Enterprise 2.0, IT is on the threshold on another great boom, none came wealthier. There is hardly any Indian site, franchise or product that can claim its place is Top100 IT products. The worst and most unfortunate part is, this is not due to lack of talent or initiative. Its due to the lack of ecosystem. IT companies can incubate that ecosystem and ride on the talents of its knowledge workers.

Tip: Keep your bureaucracy off. Create an ARPA.

The truth be told, that is the only way they can survive.
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