Microsoft India announces Innovation Framework

By siliconindia   |   Monday, 08 October 2007, 19:30 IST
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Bangalore: Microsoft Corporation India announced the launch of the Microsoft Innovation Framework at its third 'India is Innovation' summit in Bangalore. 'India is Innovation' summit is the annual event Microsoft hosts and brings together Independent Software vendors (ISVs), venture capitalists and industry representatives to encourage the development of technologies, IT applications, solutions and services for the domestic and global markets. The event, to be held in Bangalore on October 8 and 9, will be attended by over 100 entrepreneurs, 200 ISVs, and 25 venture capitalists from around the world. The speakers at the event include Craig Mundie, Chief Research and Strategy Officer, Microsoft Corporation; Dr Ashok Ganguly, Director, Reserve Bank of India; Ajit Balakrishnan, Founder and CEO of Rediff.com and Kishore Biyani, CEO, Future Group, among others. The summit kicked off with a presentation by Microsoft India on the ongoing innovative work from the Microsoft Research India Lab, the India Development Centre and the innovative business models that the sales and marketing subsidiary has developed for the Indian market. Elaborating on the critical need for innovation by a much larger section of the industry, Ravi Venkatesan, Chairman, Microsoft India said, "We do believe India is at that inflection point and if it has to move up the value chain in the global knowledge economy then the entire ecosystem has to innovate. For us innovating with India is as important as innovating from and for India." The Innovation Framework announced at the summit involves a number of investments designed to increase innovation in India. A major component of this framework is the shared vision of Microsoft and partners to create the world's first Innovation Triangle Park (ITP) at Pune. Symbiosis International University and College of Engineering, Pune, are the first partners to enter the alliance, though others are encouraged to join. As a long-term effort involving multiple private and public sector partnerships, Microsoft will contribute its expertise from over 100 Microsoft Innovation Centers, 15 Microsoft Technology Centers and five Microsoft Research Centers that it currently runs globally to create a world-class facility. The ITP will consist of one or more Microsoft Innovation Centers focused on three areas that are integral to the growth of software economies: skills and intellectual capital; industry partnerships; and last but not the least, funding for software companies looking to create intellectual capital. The Innovation Framework also includes the Microsoft Start-up Accelerator Program; the Imagine Cup Innovation Accelerator Program and the Business Model Innovation program.