Titled “Enhancing the IP Quotient in MNC R&D Centers”, a latest study by Zinnov has been released. The report highlights the current state of IP generated by MNC R&D centers India and the initiatives being taken to boost IP activity through collaborations in the Indian ecosystem.
The study reveals that IP creation is witnessing a steady growth in MNC R&D centers, whereas investments in R&D and patent activities in India are still relatively slow.
While India spends 1.0% of its GDP on R&D, countries like Israel (4.2%), Japan (3.7%), USA (2.7%) and China (2.0%) have dedicated larger spends on R&D and innovation. In terms of industry sectors, Pharma, Biotech and Computer Technology companies are leading contributors to IP creation in the country. Pharmaceutical and biotech companies alone contribute to 30% of the patents filed from India (2007-2012).
Preeti Anand, Engagement Manager, Zinnov, said, The IP landscape in India is expected to improve with the rapidly-evolving ecosystem and multiple opportunities in the key growth verticals. With several top-notch innovations coming from India in the recent past, innovation in India is expected to accelerate driven by combined efforts of all ecosystem players.
Foreign firms with R&D operations in India, in particular, are playing a key role in the growth of patenting activity in India. Several global, high-impact IP creations are now coming out of MNC R&D centers in India. In addition, it has been found that several MNC R&D centers in India are leveraging the increased research focus in universities to co-create and innovate.
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