Biocon to fund innovation cell at Hyderabad B-school

June 8th, 2009 - 9:25 pm ICT by IANS  

Bangalore, June 8 (IANS) India’s biotechnology major Biocon Ltd. Monday announced the setting up of a cell for innovation management at Hyderabad’s Indian School of Business (ISB) with a corpus of Rs.1 crore.
To be run by the Centre for Leadership, Innovation and Change at the premier B-school, the Biocon Cell for Innovation Management (BCIM) will promote innovation in business and entrepreneurship.

“If India has to emerge as the entrepreneurship hub of the world, then innovation is the buzz word. Indians are full of ideas and our effort will make the ideas realise into reality by working in a concentrated manner,” Biocon chairperson Kiran Mazumdar Shaw told reporters here.

The cell will help organisations realise the gaps in their ability to innovate, assess and manage the risks associated with innovation and finally come up with high value strategic innovations at low cost.

“I would like the cell to understand the process of innovation, create and develop champions who will make innovation a part of corporate culture,” Shaw noted.

The board of BCIM, comprising a representative of Biocon, the executive director of the Centre for Leadership, other prominent industry leaders and academics in innovation and strategy, will play an advisory role to provide research ideas.

ISB dean Ajit Rangnekar said the partnership with Biocon was an innovative practice in Indian management education.

“The partnership will strengthen the trend started by us to set up an international quality business school in India. The objective of the Biocon cell is to foster innovation and link it to operational excellence,” Rangnekar maintained.

The cell will focus on understanding and streamlining knowledge processes through research.

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