Biocon ties up with ISB to set up innovation cell

Biocon, Bangalore-based biotechnology firm, and the Indian School of Business (ISB) have launched the Biocon Cell for Innovation Management (BCIM), aimed at promoting innovation in business. The cell, to be established under the aegis of the Centre for Leadership, Innovation and Change (CLIC) at the ISB will help organisations 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, strategic innovation at a low cost. Biocon will provide an initial investment of Rs 1 crore to set up BCIM. Over a period of 10 years, Rs 20 crore is expected to be invested in the cell by Biocon.