The city of Bangaloreâ€™s (India) brand image as the â€œback office of the worldâ€? is under threat. No, itâ€™s not some neighboring city that is set to usurp that throne. Instead, Bangalore is fiercely competing with itself for a much better accolade — the IP capital of India.
IP or intellectual property is an asset of a company that files for exclusivity on a certain discovery of a product or a technology. More IPs in Bangalore simply means more products being created in the city. Currently it is estimated that there are over 5000 patents from various multinational captive design and R&D houses as well product centric start up companies in Bangalore.
Bangalore is moving beyond cost arbitrage that it once offered. The city is innovating and creating Ops that are in turn resulting in products. IP creation will go a long way to help companies become globally competitive.
Let us take the case of SRF Technology started in the city of Bangalore. This new U.S based start up has product development at the core of its operations in Bangalore. In a few months the company had an IP in metafile transfer on Bluetooth for data and stereo something that could help you change songs in a car by using the buttons on steering instead of physically reaching the sound console while driving. The same company is working on an IP for a mobile TV. This could mean watching a favorite game while driving.
There is an excitement about IP in the technology industry around the world. Traditionally physical assets of a company have played a huge role how it is valued. A transition to IP assets is being seen now which is becoming as important as physical assets if not more. IP brings respect in the eyes of the key stake holders of the company namely people, customers and investors.
A country manager of Net devices located at Bangalore says as they are doing product innovation from the very beginning they need experienced talent and fresh manpower cannot be inducted. The ideal place to get experienced and skilled manpower is South India particularly Hyderabad, Bangalore and Chennai.
In about 20 months Net Devices has filed some 14 patents all for this one big IP — a box that creates a single platform to replace multiple devices like routers, switches, firewalls and all those other components that ensure any network to run smoothly.
Companies with a rich set of pre qualified IP building blocks will put together the final solution faster and also amortize the cost of IP over numerous customer engagements. The credibility of an IP grows rapidly with the number of actual product installations that incorporate the IP as it becomes field proven and mature.