Open Innovation scene in India explained by Accenture Ventures;
What is the current state of open innovation in India?
Open innovation was a very new concept in India around 5 years back. The early adopters of open innovation were technology companies who understood that innovation doesn’t always come from within their organizations. These companies started working with innovative startups through partnerships, corporate accelerators, corporate ventures etc. Over the last 2-3 years, large enterprises across industries have joined the open innovation bandwagon. Today, it is encouraging to see the foundation for a successful open innovation ecosystem being laid through efforts from large enterprises, startups, government bodies, industry bodies and “bridgemakers”— organizations that help “connect the dots” among participants, solutions and markets.
As far as Accenture Ventures is concerned, we have been actively working with the start-up ecosystem and acting as bridgemakers between startups and our clients. Over the years, we have seen these relationships maturing to true co-creation and co-innovation relationships.
Accenture Ventures partners with startups to bring innovation from around the world to India. Why is it so important?
We believe that collaborative innovation is the key to staying ahead of disruption. Collaboration between Accenture Ventures in India and various innovative startups from around the world enables us to bring disruptive, advanced technology innovations to our global and local clients. It gives us an opportunity to co-create solutions with leading innovators around the world. To enable this, we need bridgemakers who can connect the different country ecosystems together and that’s where we believe swissnex plays a key role.
How do you see the collaboration between Accenture in India with international startups evolving in the future?
Accenture Ventures India is already working with start-ups from countries like Israel, Switzerland etc. Apart from reaching out directly to the startups in these countries, we have also been working with institutions like NASSCOM, Consulate General of Israel, swissnex etc to enable these collaborations. We have good traction with international startups in the areas of Artificial Intelligence, Cybersecurity, New IT etc.
Watch the full conversation with Avnish Sabharwal below,