CII commences its 18th Innovation Summit in Bengaluru – Innoverge 2022

Bangalore, 25th August 2022: The 18th edition of CII’s Flagship India Innovation Summit reimagined as ‘Innoverge’ with the theme ‘Engineering Imagination’ commenced today in Bengaluru. The summit aims to create a stage for industry captains, academia technocrats, young innovators and policy makers to participate and deliberate on the nuances of innovation.

The three-day summit will inspire collaborations and ideation by bringing a cross section of stakeholders to engage, share, understand and learn about the futuristic and imaginative world of high-end innovations.

CII Innoverge 2022 is an enhanced version of the earlier editions and includes showcasing of innovations through the Innoverge 2022 exhibition, which provides attendees the opportunity to experience the demos of leading innovations across various sectors.

The Chief Guest for CII Innoverge 2022 Dr C N Ashwath Narayan, Hon’ble Minister of Electronics, ITBT & S&T, Higher Education, Skill Development, Entrepreneurship and Livelihood, Government of Karnataka cited “We are working very closely with the industry and the industry is always part of the government. We need to expand our economy. We want to make it inclusive and equitable and the government needs to understand the language of innovation in a better way. We have come up with Engineering and R&D policy. Since I am working in convergence with many ministries, I can connect higher education with the industries and bring them closer to each other. Innovation is the way forward and it should become a culture in our society.”

Further he also highlighted Karnataka being the top rank in NITI Aayog’s India Innovation Index, 2022, which determines innovation capacities and ecosystems at the sub-national level. The State has held this position, under the Major States category, in all three editions of the Index so far.

Mr Kris Gopalakrishnan, Past President, CII & Co-Founder, Infosys & Chairman, Axilor Ventures said, “the Summit will present Innovation-led growth strategies that have catalyzed the evolution of Indian Industry, making Indian companies emerge as global leaders in creating the momentum to drive the digital era. India’s innovation landscape has undergone a remarkable transformation in the past few years. The adoption of new innovative technologies has helped India become the third-largest startup ecosystem in the world.”

Further he also mentioned, India’s performance has been consistently improving in fostering innovation, as attested by the ranking in the Global Innovation Index (GII) 2021, where India moved up two positions since 2020. The recent India launch of Global Innovation Index 2021, India ranked 46th in the innovation index amongst 132 economies. India also secured the first rank in central and southern Asia.

Mr Kamal Bali, Deputy Chairman, CII SR & President & MD Volvo Group India said, “An Innovation mindset together with emerging technology is the key to maximizing business outcomes. India already plays a significantly defining role in the global R&D arena, and with our growing innovation ecosystem, we are poised to emerge as the most sought-after destination for scientific research.”

We have legions of Indian engineers who are working in various countries exemplifying the well-trained manpower available at competitive costs. As a result, many MNCs have shifted their R&D base to India. The vast human capital puts India at a vantage point, while making us dependent on our own ability to ideate, create, network and collaborate with other nations to deliver better results.

Mr Arvind Kumar, Director General, Software Technology Parks of India said “Startups are the key in the innovation ecosystem. India has potential to become a data centre hub for the Asia-Pacific region and we are located strategically where we will provide an enabling environment. STPI had already established about 20 Centres for Entrepreneurship to promote research and development in specific domains. Located in different cities, these centres helped the local experts to work on products in technologies like IoT and Blockchain”

Mr Arjun M Ranga, Chairman, CII Karnataka & Director, NR Group and MD, Cycle Pure Agarbathi, elaborating on the summit said, “Karnataka is on the right path with a strong regulatory framework, skilled personnel, and capital to support an environment of entrepreneurship and innovation-driven startup ecosystem. Improved digital connectivity across the country, along with government initiatives such as ‘Digital Saksharta Abhiyan’ to encourage digital literacy, has further promoted the growth of technology start-ups.”

The 3-day event will host thought leadership addressing 15 power pack sessions on the Global Innovation Landscape, Advanced Manufacturing, and the Future of industry sectors such as mobility, healthcare, sustainability and education. A masterclass on AI etc, besides showcasing innovation in different industries as a part of the agenda. The session format will be a mix of keynotes, case studies and panel discussions with strong academic engagement. The summit will be addressed by CEOs, industry experts and distinguished academia.

The summit will harness innovation for organizational growth on a one-of-a-kind platform and the attendees can learn from experts about the best ways to invest in innovation and learn how businesses are adopting high-end technology to maximize business outcomes. The summit’s program will also include a conference, exhibition, master class, fireside discussion, and other activities between the private sector, academia, and policymakers.