IT-BPM firms exploring various avenues for commercializing their IP, reports KPMG

The recently published KPMG In India report launched at the NASSCOM India Leadership Forum 2014 has indicated that creating, managing and monetizing Intellectual Property is expected to drive the Indian IT-BPM industry in the coming decade.

The industry searching for its next big growth engine and technology leaders agree that the next phase of business models could be driven by the rise of SMAC and the convergence of technologies. To effectively utilize these trends, it is imperative for IT-BPM companies to take a deep dive towards IP management.

According to the report, to enhance the benefits that can be realized from IP, it is imperative that organizations gain a proper understanding on the IP value chain.

“If there is adequate support from the rest of the ecosystem like Educational Institutes, Funding Agencies and Regulatory Bodies, the Indian IT-BPM industry can reach close to the projected growth rate and be a US$300-billion industry by 2020, a considerable part of which will emanate from transformational models, creation and monetization of IP, and developing strong domain expertise around emerging trends such as SMAC,” added Pradeep Udhas, Head IT/ITeS, KPMG in India.
 
The report emphasizes that there is a growing need for more breakthrough technologies and product-oriented outlook in India. Collaboration with various components in the IP ecosystem like educational system and investment systems also is of crucial importance. There needs to be an improved innovation culture to break through the services mindset including better promotion for R&D in India and clarity on IP protection laws.
 
Going forward, technology vendors should seek to work closely with their customers to stay abreast of the latest technological developments, and come up with solutions that can take advantage of SMAC.