Frost & Sullivan’s Growth Innovation & Leadership (GIL) India 2018 Summit concluded its 10th edition on October 10th in Mumbai. The Summit shared insights on the Non-Linear business model paradigm and how organizations can leverage exponential or accelerated growth across industries. It was a conclave of industry experts and visionaries who came together to envisage the next wave of innovation emerging from various convergence scenarios.
This year Frost & Sullivan felicitated Kiran Mazumdar-Shaw, Chairperson & Managing Director, Biocon Limited with the 2018 GIL Visionary Leadership Award for her relentless philanthropical pursuits, business accomplishments and outstanding contribution in the social sector.
Accepting the recognition, Kiran Mazumdar-Shaw, said, “I am deeply honored to receive Frost & Sullivan’s 2018 ‘GIL Visionary Leadership Award’. I feel humbled to join the league of leaders like Ratan Tata, Kumar Mangalam Birla, Anu Aga, Archbishop Desmond Tutu, and Sir Richard Branson etc. who have previously received this award. I congratulate Frost & Sullivan for their Growth, Innovation and Leadership Summit which focuses on innovation as the way forward for global economic development. As an entrepreneur who has leveraged differentiation and innovation to build an end-to-end biotechnology-led business, I believe we are living in the ‘Idea’s Age’. Today, every economy in the world is pursuing economic development through an innovation-led growth strategy. As an ‘Ideas Economy’, India has a unique opportunity to leapfrog into the future by pursuing an ‘Affordable Innovation’ model, which I am using at Biocon to enable affordable access to life saving complex biologics therapies for cancer, diabetes and autoimmune diseases.”
India is the largest IT sourcing destination in the world; the datacenter market in India has doubled in the last 3 years and is projected to grow 1.5 times by 2020. The Summit kicked off with visionary insights on ‘Technology Opportunity Engines – Drive Exponential Growth in your Organization’ elaborating on technology interplay, customer experience and how industries need to identify growth in areas of convergence.
Nick Gliddon, Chief Enterprise Business Officer, Vodafone Idea Limited said, “As India embraces disruptive change like never before, newer sections of society are entering the digital economy with more demanding expectations in customer experiences. Organizations need to leverage the power of Mobility, IoT and Cloud applications to be more agile in the face of disruption and take advantage of these tremendous growth opportunities. Businesses that make a case for transformation by picking the right technologies are best placed to drive exponential growth.”
Aroop Zutshi, Global President & Managing Partner, Frost & Sullivan said, “Technology is all pervading, and businesses need to assess its impact. It is extremely critical to identify growth engines, industry convergence and business model innovation for long term success. It is imperative for businesses to have a vision for the future, deliver value to experience exponential growth and thrive in these times of change.”
The Summit witnessed some power-packed keynote sessions and panel discussions on several industry specific topics like Mobility, Healthcare, Start-up ecosystem and more. The sessions further discussed key market trends, new business models, and best practices for success, that are repositioning the industry for the digital era. Interactive panel discussions with senior thought leaders and industry specialists highlighted convergence across industries like uberization in healthcare, government initiatives on localization of data, technology interplay, data growth, success stories across start ups and more.
The session on ‘Emergence of New Mobility Business Models driven by Digital Transformation’ led by Kaushik Madhavan, Vice President, Mobility (Automative & Transportation) Practice, Frost & Sullivan, deliberated the transition from conventional fuel powered cars to electric vehicles, further to ride sharing, shared mobility, multimodality of mobility, platformization of transport, transcendental mobility and more. It emphasized how mobility providers need to take a collaborative, rather than disruptive approach to serve better in future. It further discussed new revenue streams and how mobility services are expected to grow into a trillion dollar market by 2025.
The Think Tank conducted by Frost & Sullivan’s Anand S., Vice President,shared insights on the hottest 50 technologies that are beacons to guide the strategic moves of innovation-focused organizations and professionals in the next couple of years. The workshop discussed how the possible convergence of several of these technologies opens up unprecedented opportunities for new revenue models and the next generation of innovative products and solutions.
The evening concluded with Frost & Sullivan’s 2018 India Best Practices Awards Banquet, which recognized companies for their accomplishments in areas of innovation and convergent thinking that will catalyze and transform industries in the near future. This year 45 awards were presented to a range of deserving establishments and companies across various industries such as Tech Vision, Visionary Science, Transformational Health, Measurement and Instrumentation, Industrial Automation & Process Control and Mobility.
To access the complete list of Frost & Sullivan’s 2018 India Best Practices award recipients, please click here.