Why in Ahmedabad?
Although India has been successful in developing a rapidly growing service industry, its performance in the product innovation sector at a global level has been negligible as compared to countries such as Japan, USA, Israel, South Korea and China. We believe that, without an innovation driven mindset, India will not be able to address the growing demand of Indian consumers in the domains such as information, education, health, agriculture, water, and energy are known as innovation ecosystem in the world.
VentureStudio at Ahmedabad University aims to nucleate an innovation ecosystem in Ahmedabad through the creation of technology ventures and a shared culture of innovation. The Silicon Valley, a former fruit growing agricultural region in California, is perhaps the best . An important component of these ecosystems is a ntwork of educational establishments, Stanford University being one such establishment. Indeed, according to data compiled by the Silicon Valley 150, companies in the Silicon Valley that were founded or co-founded by Stanford affiliates (faculty, staff, student, alumni) have a market capitalization value of roughly 400 billion USD. It is now well established that these ecosystems are critical to economic growth.
The infrastructure of Ahmedabad makes it a suitable space for launching VentureStudio to nucleate an innovation ecosystem. First, VentureStudio will build upon the deep-rooted entrepreneurship attitude in Gujarat. Second, Ahmedabad enjoys the advantage of having renowned educational institutes that are located in a diameter of five kilometers. Third, GIDC locations in Vatva, Naroda, Odhav, and Sanand offer an opportunity to innovators to rapidly convert their ideas into functioning products.
We envision the Ahmedabad region innovation ecosystem to accelerate wealth creation and prosperity by creating relationships across disciplinary boundaries. These relationships will enable a greater flow of ideas and information in a culture of trust, risk-taking, accelerated learning and co-creation. This would nurture the development of new technology, business ventures and an innovation mindset that in turn will bring wealth and prosperity to the region.