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Innovation and Entrepreneurship in India: An Overview

Published online by Cambridge University Press:  18 October 2019

Suresh Bhagavatula
Affiliation:
Indian Institute of Management Bangalore, India
Ram Mudambi
Affiliation:
Temple University, USA
Johann Peter Murmann
Affiliation:
University of St. Gallen, Switzerland

Abstract

India began the process of market liberalization that opened it to significant interactions with the world economy in 1991. In this essay, we provide an overarching view of the country's journey toward integration with the global innovation and entrepreneurship network. Major nodes in this global network have two major components that may be metaphorically referred to as ‘pillars and ivy’. Globally connected multinational enterprises (MNEs) form the pillars. Agile startups are the ivy, and their success (metaphorically, the height to which they can climb) depends on their symbiotic connections with the pillar MNEs. Both components are essential and reinforce each other. Without MNEs, the scaling of startups is hampered. Without a vibrant population of startups, MNEs’ interest in a location remains driven by cost, rather than capability and creativity. MNEs (mainly foreign) provided the initial sparks for the formation of the Indian innovation and entrepreneurship ecosystem. We chart the subsequent growth of India's startups. They began in the information technology (IT) sector but now cover a much wider range of industries. Today, India's innovation and entrepreneurship ecosystem is one of the largest in the world, with global integration in terms of technology, financing, human capital, and administration.

摘要

印度于1991年开始了市场自由化进程,从此开启了印度与世界经济互动的大门。在本研究中,我们对印度融入全球创新和创业网络历程提出了一个总体观点。在全球网络中主要节点包含两个重要组成成分,可以将其比喻为“支柱和常春藤”。全球跨国企业构成了支柱,初创企业是常春藤,它们的成功(打个比方,如它们能爬多高)取决于它们与跨国公司的共生关系。这两个组成部分是必不可少且相互促进的。没有跨国公司,初创企业的规模会受到限制;而没有一个充满活力的初创企业群,跨国公司对一个地区的兴趣只会受成本驱动,而不是该地区能力和创造力。跨国公司 (主要是外国公司)引发了印度创新和创业生态系统的形成。在本研究中,我们描绘了印度初创企业后续发展蓝图。这些初创企业始于信息技术(IT)领域,但现在涵盖了更多行业。如今,印度的创新和创业生态系统已成为世界上最大的生态系统之一,而且在技术、金融、人力资本和管理方面实现了全球一体化。

Type
Special Issue Introduction
Copyright
Copyright © The International Association for Chinese Management Research 2019 

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