Access to global innovation networks is an important first step for both the Indian industry and global market to leverage innovation driven development. Insight Bioventures has developed a network of experts in Europe, US and Asian markets for interrelated transfer of technology, co-development, collaboration and more. University clusters, industrial parks, IP agents, patent managers, fund managers and innovators are the strategic participants of our network.

In the process, Insight Bioventures has achieved a critical mass of patents, products and funds for transfer across borders for facilitating innovation output. Innovation offshoring is therefore likely to accelerate. It is driven by fundamental changes in corporate innovation management as well as the globalization of markets for technology and knowledge workers. Innovation offshoring thus creates a whole new set of challenges and opportunities.

The main drivers of this change are global corporations, primarily from the United States. They are increasing their overseas investment in R&D while seeking to integrate geographically dispersed innovation clusters into global networks of production, engineering, development and research. This trend has added a new dimension to the traditional notion of global production networks (GPNs)., transforming them into global innovation networks (GINs). India has a strategic advantage over China in leading GINs as against GPNs.

Much of the action now is in Asia owing to the competition for Asia’s lower-cost knowledge workers. The regions large and increasingly sophisticated markets and policies aimed at developing the region’s innovative capabilities.