NASSCOM TechSHack - Innovation Summit Stay Competitive In The Ever Disruptive World Ingenuity 2021

Innovation is the ability to see change as an opportunity - not a threat  "By Steve Jobs"

Today, one cannot agree more on the above quote from Steve Jobs. Since 2020, there are companies whose shares have gone up several times, several companies have shut down, new companies have emerged, several people have scaled up in their career & many lost jobs. What differentiates these two categories of companies & people? Yes, the ability of finding the opportunity in the change.

If we look at the recent BCG most Innovative Companies result, the following are glaring things to note

• Companies like Proctor & Gamble and Nokia who were top 10 most innovative companies in 2005 list could not get their name in top 10 either in 2013 or 2021 list!
• GE which was top 3 in 2005 became bottom 10 in 2013 and not in the 2021 list!
• Microsoft retained 4^th position in 2005, 2013 and 2021
• Apple topped the list - 2005, 2013 and 2021
• Pfizer appeared in top 10 list in 2021, never in the list before, perhaps taking pandemic advantage
• Google was 8^th in 2005 list, 3^rd in 2013 and 2^nd in 2021!

So clearly as we could see Innovation is a continuous process. Apple and Google/Alphabet stood out due to their continuous innovation. External disruptions affect them positively.

The Regional Council of NASSCOM Tamil Nadu, identified Innovation as one of the key driver in the current economy. Hence TechSHack, a Techno-Social Hackathon was conducted involving MSME companies and educational institutions. Top 3 ideas were selected by imminent panel of Judges which carried cash reward, access to platform for nurturing the idea further, among others.

Having said the above, "Ingenuity 2021", is going to deliberate how to stay competitive in the ever disruptive world. The Summit will discuss and deliberate various aspects of Innovation. It will suggest key aspects that can be considered to nurture and breed Innovation.