Global Innovation and Economic Value

This book attempts to capture innovation outcomes. The intent is on a holistic assessment of value creation by innovation — the societal value that it delivers to humanity, the economic value that it has the potential to endow to nations, and the monetary value that it provides to innovating firms. With a range of anecdotal examples and empirical analysis, the book endeavours to answer the question: Have investments in innovation paid off? Big data and analytics underpin the development of the book material. The coverage is truly global, accentuating the economic value created by innovation in the technology and pharmaceutical sectors, the two largest bastions of innovation. In addition, it includes numerous examples of successful innovation in global companies while analyzing its economic/financial impact.

Vijay Kumar is an IT corporate professional turned researcher. He has had a successful 25-year corporate tenure of building and managing world class technology companies in India. He was the Corporate Product Marketing Manager at Wipro, one of the top Indian IT firms. Subsequently, he was the India Center Head of Tektronix Engineering, a wholly owned subsidiary of Tektronix, USA. He later became COO of Raffles Software, a global software firm and CEO of Mindteck, a listed software company promoted by a global investment bank. As MD of Manystreams, a US based video streaming product company, and as MD of Citec India, a subsidiary of Citec Finland, he led the formation and growth of these companies in India. As President of IP consulting at Bizworth, an Intellectual Capital and Valuation advisory, he advised companies on IP strategy and patent valuation. He currently holds the position of Professor and Dean of Faculty of Management Studies at PES University, Bangalore. Dr. Kumar’s interests are in investigating the financial and economic outcomes of innovation. He is an Electronics Engineer with an MBA from Rensselaer Polytechnic Institute, USA. He obtained his PhD from Indian Institute of Technology Madras, India.

R. P. Sundarraj is currently a Professor of Information Systems at the Indian Institute of Technology Madras in India. He has over 25 years of international academic experience, including stints at Qatar University in Doha, as well as tenured faculty positions at the University of Waterloo, Canada and Clark University, USA. Professor Sundarraj obtained his Bachelors in Electrical Engineering from the Regional Engineering College, Trichy, and his MS and PhD in Management Science from the University of Tennessee, Knoxville, USA. Professor Sundarraj has guided several doctoral and master's students, and has authored/co-authored over 70 research works in leading international conferences, and published in journals such as Mathematical Programming, European Journal of Operational Research, Decision Support Systems, and various IEEE/ACM Transactions. In addition, he has wide industry-consulting experience in providing e-commerce solutions for marketing and inventory-management problems arising in Fortune 100 companies.