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Innovation takes centre-stage at CII summit

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Source: Google images
Source: Google images
Source: Google images

Bengaluru: The theme of the summit is ‘Realising the National Dream – Scaling local innovation’.

“Creating a vibrant start-up ecosystem in rural areas is the key to achieving the goals and more companies should move from the startup stage to small and medium enterprises stage and into global MNCs,” Gopalakrishnan, also the chairman of India Innovation Summit, said.

He praised e-commerce player Flipkart for achieving valuation worth billions of dollars after starting out on a small scale.

Gopalakrishnan said CII has come out with the tools and techniques needed for addressing the question of how to create a vibrant start-up ecosystem in tier two and three cities.

V. Manjula, principal secretary, department of information technology, bio-technology and science and technology, Karnataka, said India exploited only a fraction of its innovative capability despite being a nation known for its improvisation.

“There is a lot to accomplish and the silver lining is the demography of India,” said Manjula.

Manjula said the Karnataka government established a start-up warehouse and proposed to set up an innovation fund. The Karnataka government has also launched nine innovation centres for engineering colleges.

Mohan Sekhar, senior MD, Accenture highlighted on the need of frugal innovation and praised Tata Group for implementing it in some of its products.

He specifically focused on Tata Chemicals water purifier Tata Swachh for not using electricity and just rice husk for purifying water frugally.

“It is all about innovation, where ever you stay — whether in the Silicon Valley or anywhere else. Innovation is shaping the future of mankind and the future of corporate India and the Indian government,” added Sekhar.

The two-day summit, brainstorming on innovation, has scheduled panel discussions on ‘Make in India’, agriculture and agro products, smart cities, financial inclusion, infrastructure for transportation, entrepreneurship and Clean Ganga Misson by eminent speakers and industry experts.

(IANS)

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South Korean Tech Giant Samsung to Spur Innovation as Biz Challenges Rise

Samsung said earlier this week it will announce the updated schedule “in the coming weeks”, without elaborating

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samsung
To get ahead in the fast-changing tech industry, Samsung said it will expand investment in burgeoning tech segments to propel growth. Wikimedia Commons

Samsung Electronics Vice Chairman Lee Jae-yong has called for senior executives to spur efforts to develop innovative technologies to tackle rising business challenges and foster new growth drivers, the company has said.

Lee, the de facto leader of the South Korean tech giant, held a meeting with senior executives of the IT and mobile division at the Suwon headquarters, south of Seoul, on Friday to discuss global strategies.

The global strategy meeting, which is held twice a year, has drawn keen attention as Samsung is faced with business challenges from the weak memory chip and handset business and uncertainties from a trade war between the US and China, Yonhap new agency reported on Sunday.

During the meeting, Lee called for the company officials to spur efforts to develop new technologies, including the 6G mobile network, blockchain and Artificial Intelligence and to expand global partnerships.

“We have to make bold investments for the future regardless of any changes in the business environment,” Lee was quoted as saying in a press release.

“No company can guarantee they will be around 10 years from now,” Lee said. “We have to have a mindset of starting new businesses, beyond resting on what we’ve achieved so far.”

samsung, tablet folded phone
The new Samsung S10 phones are displayed Feb. 20, 2019, in San Francisco. Samsung is hailing the 10th anniversary of its first smartphone with three new models that it hopes reverses a sales slump in an industry recycling the same ideas. VOA

His meeting with the handset division executives came two weeks after having a separate gathering with senior officials of the semiconductor and display business as the company was assessing the ripple effect from the US decision to put a ban on Chinese tech giant Huawei.

The world’s largest smartphone maker has grappled with slowing growth in the premium smartphone market, while losing a market share in the low-end and mid-tier segment to cost-effective Chinese makers.

According to industry tracker Strategy Analytics, Samsung shipped 71.8 million units of smartphones, or 21.7 per cent of the total, in the January-March period, with its market share falling 8 per cent from a year earlier.

Also Read- TikTok Launches ‘Device Management’ Feature for Safety of Users in India

Although the company tried to boost demand in the high-end market with its Galaxy Fold priced at $1,950, its April launch schedule has been constantly pushed back without further notice over durability issues.

Early reviewers pointed out that the device’s protective screen layer was easy to peel off and gaps made it easy for debris to damage the foldable display. Samsung said earlier this week it will announce the updated schedule “in the coming weeks”, without elaborating. (IANS)