A report by French consulting firm, Capgemini, ranks India as the most preferred destination for innovation in Asia and third biggest globally, with the ‘Silicon Valley’ of East Bengaluru leading.

Within a year, India has attracted nine new innovation centres, bringing a total of 25 centres. The US leads the list with 146 centres, followed by Britain with 29.

Keypoints:

• India now accounts for 27% of Asia’s new innovation centres.

• One in every ten new innovation centre is in India.

• India stood third in the total number of innovation centres, with 25 units.

•  Bengaluru remained the favourite innovation destination in India, with 3 out of India’s total 11 innovation centres opened between March and October being established here. The new innovation centres opened in the last few months include top brands like Apple, Airbus and Visa.  The city remained No. 5 in the global top 10 city list.

• Current priorities shared among innovation centres focus on digital technologies such as big data, internet-of-things (IoT), social media, mobile, robotics, augmented reality and 3D printing.
• A bulk 55 per cent of the new innovation centres globally operate as startup accelerators, while 33 per cent of them are in-house innovation labs.

• Internationally, the financial services industry leads the rest of the pack in opening new innovation centres. Financial sector constituted 24 per cent of the newly opened innovation centres, ahead of 21 per cent from electronics and IT and 16 per cent from the manufacturing sector.

References:

India most preferred destination for innovation in Asia

India ranked No. 2 innovation destination in the world – The Times of India

India among top five innovation destinations: Report – The Indian Express