The Tech Innovation Eco-system

The Tech Innovation Eco-system

The global innovation ecosystem is rapidly growing across domains, including blockchain, artificial intelligence, natural language processing, chatbots, etc. With widespread adoption across industries, owing to the growth of the digital economy, tech decision makers are focusing on use-case driven instances of these innovative initiatives.

The critical need for the innovation ecosystem, which includes accelerators, investors, academicians, and technologists, is accessibility and connectivity. Diverse groups of innovators need to be connected through a platform or networking solution, for business leaders to discover and adopt their products. Through digital networking, hyper-collaboration, and virtual meets, the innovation ecosystem is being integrated further to help it grow beyond local and regional boundaries.

Importance of the tech innovation ecosystem

With upwards of 500,000 global enterprises working on advanced solutions, the scale of the innovation ecosystem is significant. Tech buyers, decision-makers, and stakeholders across healthcare, insurance, finance, and other industries, are always looking for feature-packed solutions such as AI, machine learning, NLP, and chatbots.

In fact, in manufacturing alone artificial intelligence has the power to boost share of profit by 39% because of AI-enabled automation. Data also suggests that AI can contribute close to $15 Trillion to the global economy by 2030, owing to its critical benefits in productivity and efficiency. The benefits of adopting innovative solutions are evident across industries, with several CIOs, CDOs, and innovation leaders, focusing on their associated advantages.

That is why global tech innovation ecosystems needs to flourish, to continue solving some of the most complex challenges across industries worldwide. The critical combination of talent, infrastructure, networking, and capital will help ensure that innovators work on the cutting-edge of technology as buyers gain more access to adopt these solutions at-scale.

Growing technology start-up ecosystem

Start-ups have been at the forefront of commercializing technology worldwide, while providing a scalable business model for enterprises to explore. They are leaders of technology utilization and form a core part of the tech innovation landscape. They directly impact the scalability of key solutions, while improving adoption of technologically complex innovations.

In fact, the rise of global start-ups has directly contributed to the digital maturity of industries worldwide. Buyers and technology decision makers have a greater understanding of innovative solutions, by analysing the various use-cases developed by global start-ups. The start-up ecosystem is instrumental in global knowledge enhancement.

Start-ups are also leading the way into deep tech and advanced autonomous solutions. Close to 19% of Indian start-ups are leveraging deep technology solutions to generate breakthroughs in scientific and engineering capacities. This is driving significant innovation across growing areas, such as space-tech, digital payments, quantum computing, SaaS, ERP, etc.

Key pillars of technology ecosystem development

There are several essential pillars that drive the growth of tech innovation within ecosystems. They ensure the successful transfer of technology and information across the innovation value-chain, while providing greater access to entities leveraging the network.

  1. Information access – Awareness and access to quality information around innovative technology, aids in the growth of the ecosystem holistically. More companies, organizations, and stakeholders can launch projects within their enterprises via streamlined access to information.
  2. Connectivity – Networking and nodal connectivity is critical to the successful transfer of technology information across entities. Through hyper-collaboration, digital meetups, and industry groups, companies are that much more connected to innovate collectively.
  3. Capital – The flow of capital from investors, banks, and financial institutions ensures the continuous funding of innovative projects, in key areas such as blockchain, chatbots, ERP, VR, AI, etc. Both public and private sector investors have helped scale-up the adoption of technology across industries.
  4. Infrastructure – Technologists, entrepreneurs, and enterprises are redesigning tech models, based on the scale of infrastructure within their countries. Up-skilling is a core benefit of quality infrastructure, and is critical to the exploration, adoption, and scaling-up of innovative technologies.

vBridge Hub enabling access into innovation ecosystem

vBridge Hub provides seamless access to the rich and diverse technology innovation ecosystem, connecting decision makers across industries to service providers and experts. vBridge Hub’s technologically advanced networking platform connects entities through requirement-driven discovery while bridging the accessibility gap within the technology ecosystem.

Organizations can perform in-depth market research on the latest technology innovations, such as AI, machine learning, data analysis, while also evaluating and testing solutions directly on the platform. Learn more about vBridge and schedule a demo of the platform by visiting us here - https://vbridgehub.com/contact-us/

See other articles

Technology  Innovation Scouting

Technology Innovation Scouting

Technology and innovation scouting is a key practice that enterprises must engage in ...

Read more...
Need for Collaboration to drive Innovation

Need for Collaboration to drive Innovation

Collaboration is a key strategic initiative to enhancing innovation within industries ...

Read more...