The Indian School of Business (ISB) in association with the Biocon Limited, India's pioneering biotechnology company, has launched the Biocon Cell for Innovation Management (BCIM) to promote innovation in business. The Cell will be established under the aegis of the Centre for Leadership, Innovation, and Change (CLIC) at the ISB. BCIM at the ISB will help organizations find answers to questions such as the gaps in a company's ability to innovate, assessing the required understanding to manage and mitigate risks associated with innovation and how to produce high value, high quality, strategic innovation at low cost. Biocon is contributing an initial investment of INR1 crore to setup BCIM.
The partnership between Biocon and ISB further strengthens the trend started by ISB when its founding fathers attracted the support of industry to establish an international quality business school in India. The primary objective of the BCIM is to foster innovation and link it to operational excellence. A representative of Biocon, the Executive Director of CLIC, other prominent industry leaders and academics in the area of innovation and strategy will comprise the Board of BCIM. The board will play an advisory and enabling role by providing research ideas that will assist the activities of BCIM to create maximum impact. Biocon will provide funding over a minimum 10 year period as and when required.