India is world's most promising innovation hub

India is world's most promising innovation hub

Summary: India trumped Israel, the United States, and China as the most promising location for tech innovation to flourish, according to a KPMG global survey.

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Over 800 global executives have nominated India as the world's most promising location where technology innovation can flourish.
 
KPMG released its "Global Technology Innovation" report on Thursday, surveying 811 business leaders between April and June. These comprised respondents equally from the Americas, Asia-Pacific, and Europe, Middle East and Africa. Specifically, 25 percent of respondents were from the United States, 12 percent from China and 9 percent from India.
 
The report found that India trumped Israel, the United States, and China in the inaugural "confidence index," which uses ten factors--including talent, infrastructure, and government incentives--to assess a country's prospects for tech innovation.
 
India ranked number one with an index of 72, beating Israel by a point, and the United States's score of 65.
 
The other criteria include: development of disruptive technology breakthroughs; mentoring and access to innovation network (Founders, CEOs, etc.); access to alliances or partnerships; supporting ecosystem (law firms, VCs, and etc.); access to capital; education system, and the ability to drive customer growth.
 
Overall, India took the third spot on the 2013 Global Tech Innovation Index, behind the U.S. and China. Ten percent of respondents believed that India would generate disruptive breakthroughs, compared with the United States (37 percent) and China (24 percent).
 
The U.S. is being tipped to retain its crown as the global capital technology innovation, as only a third of respondents believe this concentration of activity will shift elsewhere. Last year, 44 percent believed it would shift.
 
KPMG India's head of technology and markets Pradeep Udhas said that India's "farsightedness" offset other short-term and structural issues.
 
"Despite several concerns on data privacy and local technological infrastructure, the outlook for the sector is largely positive. The government can assist the technology sector by enabling easier access to capital through investor-friendly policies and strengthening IP protection laws," Udhas said.

Topics: Start-Ups, India, Tech Industry

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5 comments
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  • any survey in India gets a high confidence score

    ... their confidence does not necessarily translate into capability or capacity

    Between 2009 and 2011 China accounted for 72% of the world’s patent-filing growth and Chinese companies ZTE and Huawei stood at numbers one and three respectively in the tally of global patent applications. In the year 2000 China accounted for approximately 1.9% of the worlds total patent filings, by 2006 that number had risen to 7.3%.

    India by contrast has no firms listed in the top 99 rankings for patent filings, and as a country does not appear in the top 15 nations submitting patent applications
    Darryl Carlton
    • Good News to Hear: Thank You for Showing the Bright Side of India

      This news is very pleasing for me. I travel to India often on a work visa to consult in IT companies in Bangalore, Pune, and Hyderabad. I am looking forward to the IT market growing in India. It will be better for foreign workers who go to India and also increase the standard of living even more. I feel these things put India on the road to a world economic power.
      Daniel Yittrium
  • Promising innovation hub

    Not much if anything has been invented in India. We import all the electronics and even auto transmissions from China.
    hareshp408
  • Patents

    There is an Indian involved DIRECTLY/INDIRECTLY in almost every Patents that are being filed in the US
    sasikanthr
  • Circumspect

    Delighted to see these figures but skeptical if all of this is true or just one point of view. Number if Indian Product startups are increasing by the day but is the environment conducive enough for them to grow and prosper.
    NomadicNerdesh