A crisp report on state of innovation in corporate India. one that captures insights on how Corporate India is driving innovation within their organisation.

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Stateof
Innovation
How Corporate India is Driving Innovation

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For innovation to thrive, chaos needs to exist. Organisations need a mechanism to
inspire wildly creative ideas – often created out of uncertainty, chaos, and
disorder – and to transform and evolve them into solid offerings. The key
challenge is the delicate balance between chaos and order that is most
challenging for companies.
According to BCG, 65% of the leaders of global organisations have named
innovation as a top-priority for their organisations. Yet majority have remained
uncertain about their commitment - only 45% have acted on that priority. Another
challenge is that nearly 25% of companies fail to align their innovation strategy
with their operations.
The advent of COVID-19 pandemic has upended nearly every aspect of life, from
the personal (how people live and work) to the professional (how companies
interact with their customers, how customers choose and purchase products and
services, how supply chains deliver them). The times of crisis are always an
opportunity to innovate. On the global scene, a large number of businesses are
struggling and many executives expect innovation to once again be a priority post
this crisis.
This first of a kind report on the State of Corporate Innovation in Indian
organisations was brought together by our desire to understand the Innovation in
Corporate India. With the times changing and given the recent massive
disruptions, has organisational propensity to innovate increased or decreased?
What is the new normal going to look like ? how are organisations responding to
keep themselves going?
These are some of the questions that we look to resolve.
65% of the leaders of global
organisations have named innovation
as a top-priority for their organisations.
Butvery few act on executing it.
Foreword The Need

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Indian Context
As the pace of development,
growth and competition increases,
the ability of an organisation to
innovate and execute becomes
important for the success. The
change that is happening around
us is exponentially increasing, and
innovation is key for businesses to
stay relevant, competitive; and in
many cases lead the change.
If you were to look at the top organizations that stand at the peak within their
industries, they all embrace innovation. From Apple to Amazon, UBER to Airbnb, all
these organisations leverage innovation to stay relevant and for their continued
success.
India has been making strides in the innovation space, rising in the global
innovation rankings in the last few years. From being a technology-borrower to the
current technology-innovation India has transformed itself to be one of the most
attractive investment destinations for innovative solutions.
A large number of transnational corporations, more that 250 global firms, such as
Microsoft and General Electric have set up their R&D and innovation units across
various locations in India. And in the recent years the domestic players have also
leveraged innovation to become leaders.
Yet, how mature is the Indian innovation compared to the global innovation?, how
do Indian corporate leverage innovation? How agile are Indian enterprises when
facing crisis or disruptions? What is the role of innovation in long-term growth?
As India becomes more prominent in the innovation sector, it becomes imperative
for us to understand the role of innovation within Indian corporates, their ability to
cope up with disruptions and what are their long term objectives in regard to
innovation.
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Asa rising economic powerand an
increasingly important locus of
innovation, it is imperative for us to
understand the role of innovation
within the Indian corporate setup.
Over the years innovation has evolved from a nice-to-have to a core
competence, and frequently discussed in board rooms to create, capture and
sustain market advantage.
According to McKinsey, 84% of global executives identify innovation as a key
factor for their future success. Many institutions have begun to find innovation
imperative to keep pace with the changes happening around them and aspire to
lead the change.
Increasing presence of Innovation in Corporate India

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Our goal is to assess the nature of innovation within the mid- and large- scale
organisations within our country. This study looks beyond the innovation
outcomes and assesses the mechanisms, agility and the changing focuses of the
organisations to evaluate their ability in innovation.
Through this study we strive to identifying long-term objectives through the
changing focus within organisations and chalk out the future paths and provide a
platform for organisations to learn from their peers
This first of a kind report on the State of Corporate Innovation 2020 in Indian
organisations was put together by our desire to demystify Innovation in Corporate
India. There is a stark need for such a report focused on the Indian innovation
landscape - one that provides the readers gain a clear picture on permeation of
innovation within organisations and how their peers are leveraging innovation within
their organisations.
The key objectives of this research are :
1. Tovisualise the
innovation
landscape in the
Indian Corporate
organisations
2. Compare innovation
activities between
Indian natives and
foreign-origin
counterparts
3. Assesstheagility
and preparedness
of organisations in
tackling disruptions
4. Tounderstand the
direction and strategies
organisations have
planned taken todrive
innovation even in
these trying times
The purpose and objectives
Why this study?

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Scope and focus of the study
Key Enquiry Areas
To assess the permeation of
Innovation in organisations
• How mature are innovation units within Indian
corporate sector
• What structures do organisations use to
enable innovation?
• Does the size of the organisation determine
the type of innovation structure?
• What are the perceived benefits they look to
achieve?
A
How organisations tackle
disruptions through innovation
• COVID as a disruptor – its impact on
organisational innovation
• Enablers to drive innovation during disruption
• Constraints for driving innovation
• Preparedness of the organisation
• Programs to tackle disruption
B
How organisations are
preparing for the future
• Changing drivers of Innovation
• Change In Focus Of Functional Areas
• Change in focus across innovation
programs
• Funding For Innovation
C

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