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With 85% of the country’s software companies development centres headquartered in Pune, the city is poised to become the next innovation hub in Asia shows a study by a business advisory firm Zinnov Management Consulting and Software Exporters Association of Pune (SEAP).
The study, Advantage Pune The Innovation Frontier, which was released last week, delves into the historical evolution and rise of Pune as the engineering, R&D and IT services powerhouse of India, while deliberating on the way forward for the city. Within the overall industry ecosystem, key areas of strength for Pune include banking and financial services, insurance, IT services, automotive engineering and enterprise software product engineering. The city employs 61% of India’s R&D employee base for software product companies, said the study. About 124 software product start-ups have come from Pune in the last decade. The city has 112 development centres of multinational corporations and there are 17 Special Economic Zones all of which make it an attractive destination. Pari Natarajan, co-founder and CEO of Zinnov Management Consulting, said, Pune has not only contributed to the growth of the state, but also to the overall IT growth of India. We are also seeing an explosive start-up ecosystem here, which is very unique to the city. Pune houses close to 124 indigenous startups with business and productivity software accounts to about 50 percent of it. In the years to come, the city can easily propel itself to the global league through some smart marketing efforts and creating a more vibrant Brand Pune. Stressing on the city’s education advantage, the study finds that while Pune has traditionally been a location of industrial engineering, it now produces a large and diversified pool of engineering graduates every year. Pune produces over 12,000 engineering graduates every year and it is expected to further increase as more colleges come up, the study said. The city also houses several premier research institutions and has been witness to rapid development of infrastructure, the report said, adding that this massive infrastructure and urban growth will attract more multinational corporations.
Courtesy: Times of India
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