We have come a long way from the first seed accelerator Y Combinator, which started in Cambridge, Massachusetts, in 2005. A far cry from what is now being sported by every large organisation. Well almost! Interestingly, Acceleration can be Internal or External, and it is largely dependent on the philosophy and DNA of the organization. Global In-House Center’s , or GICs, as they are commonly known, are not far behind in this surve.
They all came here for Cost and stayed back for Value. Labour Arbitrage is what lured them to India, but it was talent which held them back. Given the quick maturity of this model, it was just a matter of time, when most Global In-House Center’s would clamour, to proudly proclaim their newly attained status, as Global Innovation Center’s. A radical shift from being Shared Services Center’s, to the much avowed status of Center’s of Excellence. Inasmuch, the global headquarters of Fortune 100 companies are now looking at India to take the next big leap. A springboard? A Force Multiplier? Now that GIC’s in India have built a solid reputation for themselves, expectations from their parent organisations and Global MNC’s have gone up significantly, which has increasingly added to the percept that Indian shores are to do with innovation, scaling up and business excellence. Nothing less!
Large organisations are emerging out of their shells and looking at smaller, younger and nimbler organisations to drive Innovation. A win-win situation for both, is par for the course naturally. The GIC’s get the best talent, access to deep domain knowledge, and most importantly the speed and agility of a start-up. On the other hand, start-ups get to work with large MNC’s, learn and gain from their mentor-ship programs in equal measure. Most importantly, and quite understandably, they get financial security because of the deep pockets that GIC’s have. It is a trend that has caught on, and increasingly more GIC’s in India are seen to be starting their Accelerators, only to garner global acknowledgement and appreciation in large dollops.
There are hundreds of success stories that these Accelerator Programs have scripted globally, and India is not far behind. Would you like to share YOUR Story?