Bhubaneswar: India Accelerator – multi-stage fund led accelerator in India recently hosted a dynamic two-day residential Open Innovation Workshop in collaboration with IIT Bhubaneswar Research & Entrepreneurship Park. The workshop brought together corporate leaders, innovation managers, and R&D teams from leading companies such as NTPC, Tata Steel, Grid Controller of India, and Bajaj Electricals.
The program enhanced the understanding of startup mindset and open innovation principles and methodologies. It provided deep insight into successful open innovation case studies and best practices while also providing practical experience in problem-solving through open innovation techniques.
Arindam Mukhopadhyay, Partner and Head of Corporate Innovation at India accelerator highlighted the broader goal, saying, “The workshop exemplified how corporates can leverage the innovation potential of startups while benefiting from the academic rigor of institutions like IIT Bhubaneswar. The future of innovation lies in collaboration, and our partnership with the esteemed institution helped us bridge the gap between theory and practice, fostering a shared ecosystem for growth.”
The two-day workshop aimed to equip corporate leaders with cutting-edge tools and strategies to drive innovation by harnessing the collective intelligence of external stakeholders and startups. The workshop facilitated the participants with the opportunity to engage in a series of thought-provoking lectures and discussions. Additionally, industry experts shared their knowledge on the principles and benefits of open innovation, illustrating their insights with successful case studies from various industries.
“We are delighted to have hosted a dynamic two-day Open Innovation Workshop in collaboration with India Accelerator. Bringing together industry leaders, the event has successfully fostered a valuable and collaborative environment. The exchange of ideas between corporate leaders, R&D teams, and innovation managers has been inspiring. We look forward to seeing how these partnerships drive technological advancements in the future,” said Soobhankar Pati, CEO & Director, IIT Bhubaneswar Research & Entrepreneurship Park.
Addressing the participants, Prof. Shreepad Karmalkar, Director, IIT Bhubaneswar, said : “Innovation happens when our outlook is enriched by past experience but not limited by it. Perceived simply as money making four decades ago, entrepreneurship is today regarded as a wealth generation skill to be introduced to students during their higher education. “In today’s fast-evolving technological landscape, the concept of Capacity Building should include skill development, research capability and entrepreneurship”. Highlighting the initiatives taken, he stated – “By combining cutting-edge research with India Accelerator’s expertise and startup energy, we have created a powerful ecosystem for innovation. This workshop demonstrated our commitment to fostering collaborations that not only address real-world challenges but also push the frontiers of research and development to deliver sustainable, long-term solutions.”
Furthermore, the expert sessions at the workshop facilitated vibrant exchanges between corporates, startups, and academic leaders. The environment fostered cross-pollination of ideas, enabling participants to explore potential collaborations and identify synergies that could help address industry challenges. This dialogue was further enhanced by interactive group activities, which provided hands-on experience in identifying innovative solutions within specific industry contexts.
The program was followed by the live startup pitch session, where startups presented their innovative solutions to real-world industry problems. This not only gave corporates a glimpse into the entrepreneurial mindset but also provided opportunities to explore collaborations with startups that offer practical, forward-thinking solutions.
The final sessions were dedicated to exploring future technologies and trends, ensuring that participants are equipped with actionable insights on how to adapt to and leverage upcoming disruptions in their respective industries.
This workshop underscored the importance of industry-academia collaborations and demonstrated the value of incorporating open innovation strategies to stay competitive in today’s rapidly evolving business landscape. With its combination of expert insights, hands-on activities, and networking opportunities, the event provided a comprehensive platform for corporates to rethink their innovation strategies and explore new ways to integrate external expertise into their processes.
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