The third keynote session was by Jay Pullur, CEO and Founder of Pramati Technologies, who talked about: Indian Approach to Product Innovation – Missing the Magic Quadrant
Pramati builds independent companies focused on profitable, well-defined markets with four steps:
Jay Pullur kicks off by stating “It’s easier to learn from others experience than building your own”. He, then, continues talking about the sectors in the context of software products. While in India, it’s just Products and Services, globally it is categorized into software, internet and services.
So what are the challenges that comes into approaching the product innovation?
#Challenge 1 – Spotting Opportunities
Spotting opportunities has to align with core skills and branding of the product. In the product development phase of emerging, growth, maturity and decline, the talent is to launch the product in the right stage and extend the growth and emerging phase. Opportunity spotting also lie in having the right people work on your product. Pullur advises to hire T shaped people – with a Depth of expertise and Breadth of Knowledge.
#Challenge 2 – Finding these T shaped people
The art of finding these T shaped people is very tough in a service dominated landscape. Pullur says that the key areas of evaluation must be: Design, requirement, vision and understanding of an area.
Companies must employ:
A-type – All questions have an answer
O-type – Questions with many options
#Challenge 3 – Scaling without breaking
Scaling requires entrepreneurial people at many levels. The skills are of 360’ requirement. These people help in the shape shifting of the organization.
Pullur concluded telling that once these challenges are covered by an organization during product innovation, these the Indian approach will find its magic quadrant.
Also, check Pramati Technologies’ website and LinkedIn page to know more about them.