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Cyient incubating 15 new-age tech concepts to drive innovation, growth

Press Trust of India  |  New Delhi 

Mid-sized IT firm is incubating around 15 ranging from radars to as it looks to "nurture internal innovation", its founder and BVR said.

The company is incubating the technologies under its New Accelerator (NBA) programme.

"Technology underpins the long-term success of any company. We launched the initiative in FY18 to nurture internal innovation, something we believe is vital to the organisation's future success," Reddy said in the company's annual report 2017-18.

He further stated that -- which is currently incubating around 15 ranging from and to Internet of Things (IoT) platforms and grid analytics -- is also simultaneously cultivating thinking and fostering entrepreneurship within the organisation.

The report pointed out that is focussed on identifying and commercialising new solutions with an emphasis on emerging technology and

"NBA operates as an internal incubator and offers an intensive, startup-like environment to develop technology led solutions. NBA invests in and collaborates with academia, enterprise, and to bring compelling, innovative ideas to life," it said.

The company has roped in Jan Radtke as of NBA to spearhead the new unit.

"A percentage of our revenue has been budgeted for NBA and we are currently developing solutions as part of this initiative. While this involves significant investment in the short-term, we are confident that this will help us accelerate our revenues in the future," said.

had posted a revenue growth of 8.6 per cent at Rs 3,917.5 crore during the fiscal. The company spent Rs 6.5 crore on R&D in 2017-18, as against Rs 2.4 crore in the previous fiscal.

The company is also making corporate venture investments to gain access to new sources of technology and as it looks to provide further and support long-term revenue and financial goals.

"By proactively engaging with the start-up ecosystem, Cyient is identifying and investing in early-stage startups that can become potential partners, suppliers, or even future acquisitions," Reddy said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, August 12 2018. 15:45 IST