India yet to Meet the Scale of IP Generation in China
15 April 2014
India is yet to reach the scale of IP generation as it is in China, even with the existence of a large number of technology-driven start-ups in the country, according to a leader of technology giant Cisco, reported The Economic Times.
John Chambers, CEO of the company, said he was committed to India, but “it has not taken off in terms of IP generated anywhere like China or Israel.”
Chambers said while there was a lot of activity going on for start-ups in India, this had to be done on a larger scale.
According to the report, Cisco created last year a corpus of $100 million to invest in early-stage start-ups in the Internet of Everything space globally.
"If you look at the investment community, venture capitalists, many of them flooded into India thinking this will be the next wave of start-ups... We have to get that entrepreneurial spirit, at a larger scale in India," he said.
Despite the blossoming technology-driven start-ups in the country, Chambers said local universities can play a bigger role in fostering entrepreneurship and the spirit for innovation.
“Universities like Stanford create, foster entrepreneurial spirit. We also partner with institutes like MIT, Stanford to generate that. If you know what the issues are, you can get them fixed. A lot more engagement with academics is required,” the report cited Chambers.
