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Wipro to give internal innovation a major boost

Tags: wipro, startups, intrapreneur, innovation, entrepreneur, corporate venture capital, sme, technology

September 09, 2014 | COMMENTS ( 0 )

Wipro to give internal innovation a major boost

Bangalore-based IT major, Wipro is planning to give a big boost to internal innovation. The firm has identified key focus areas for initiatives in this regard and has also allocated budgets accordingly. 
 
 
The nurtured ideas coming from various business units that have the potential to scale up over a two- or three-year timeframe and generate substantial revenues. 
 
 
The move is an encouragement for employees who think up such ideas, as also potentially a booster for the company given the need to differentiate itself from rivals. It is investing in innovation in cognitive technologies, artificial intelligence, man-machine interface, robotics, smart devices and open source. The company believes these could become revenue-accretive in two to five years. 
 
 
Wipro calls this particular strategy as H2H3 (Horizon 2, Horizon 3) Investment Program to nurture ideas coming from various business units that have the potential to scale up over a two- or three-year timeframe and generate substantial revenues. The program identifies ideas in solution creation, white spaces, product-led services, new lines of business and new geographic penetration.
 
 
The program is said to have not only invigorated business unit team leaders to come up with proposals that have the potential to generate a revenue upside, but also compete internally to receive mentoring and funding support.

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