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.