Zinnov launched R&D Innovation Council on August 7th 2008. Zinnov, management consulting firm was promoted by Vijay Swaminathan (KPMG) and Pari Natarajan (Praja).According to Zinnov, the convergence of large R&D talent in the country today, experienced leaders, innovation eco-system created by the MNC companies, network of institutions (providing research backbone) and a strong local market is driving innovation in and to India. Moving up the value chain and being seen as Value centers rather than mere cost centers is the latest mantra of R&D centers in India. This is further substantiated by the promising growth forecast of the R&D sector in India. R&D offshoring to India is now a USD 9.35 Billion industry, with MNC-owned R&D centers accounting for about USD 5.83 Billion of this market. This is expected to grow to be a 21.4 billion industry by 2012.
The council will help Indian centers improve productivity, drive innovation and optimize operations.