In my last two posts on Indian Offshoring companies, I have been stressing on need for companies to look for where they can bring value addition and innovation to the table. Now here is a post by Steve Hamm (Author of Bangalore Tiger - book on Indian Offshoring / Wipro) which covers the new initiative by TCS called Innovation Networks.
TCS Innovation resources are extended to an entire ecosystem through a Collaborative Innovation Network that leverages shared synergies across the innovation ecosystem to bring all new standards of co-innovation for our customers.
For the past three years the company has been gradually building a network of university researchers, venture capitalists, and startup entrepreneurs. Now this initiative is really starting to get traction.
In past years, TCS invested small chunks of money in startups. Now, though, Malik says he’s developing a new strategy aimed at putting small investments to work with strategic partners. TCS really isn’t interested in the old-fashioned model of investing in startups simply for the capital gains. It wants a better payoff than that. The small investments it makes in startups can help solidify a relationship and boost the partner’s ability to develop products or bring them to market—which in turn helps TCS improve its product and service offerings.
Malik sees TCS as an enabler and transformer of innovations incubated by others. As a service provider, it’s in a unique position to understand both what corporate customers need and what startups have to offer. “It’s connecting the supply with the demand, and it’s a huge piece of the equation,” he told me. “There are startups popping up all over and they need to connect with customers.”
This is the kind of thing Indian outsourcers need to be doing to avoid the commodity services trap.
Some of the companies / initiatives that are part of the CO-Innovation network of TCS are:
CollabNet is the world's leading provider of solutions for on-demand collaborative development that enable globally distributed teams of software developers to complete software projects on-time, on-target, and on-budget.TCS and CollabNet partnered in 2005 to explore synergies and co-innovate and worked on CollabNet's flagship product, CollabNet Enterprise Edition (CEE) 4.0, designed for distributed application lifecycle management and software development.
MetricStream is a leading solution provider in Governance, Risk, Compliance (GRC), and Quality Management areas. MetricStream uniquely combines business process management software and content to deliver solutions with embedded best practices templates, access to compliance training programs, and real-time regulatory notifications and industry alerts.The TCS-MetricStream co-innovation partnership has been successful in delivering GRC and Quality Management solutions for global customers operating in a variety of regulatory environments and facing unique compliance challenges.