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Institutionalising innovation in IT

With the annualised revenues generated in 2006 as a result of innovation clocking about $100 mn for Wipro, the firm plans to increase this contribution from existing 5% to about 10% of the total revenues in the next three years.

india Updated: Feb 17, 2006 03:03 IST
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With the annualised revenues generated in 2006 as a result of innovation clocking about $100 mn for Wipro, the firm plans to increase this contribution from existing 5% to about 10% of the total revenues in the next three years.

Also with a workforce of 12,500 employees in R&D division, Wipro has become the largest third party R&D vendor in the world.

Wipro chairman Azim Premji, speaking at the sidelines of the Nasscom 2006 event, said, "Rather than looking at innovation from the point of how much resources we invest into it, we like to quantify it in terms of money that we have made on commercialisation of each innovation. Presently, resources spent on innovation are getting us 25% return which is equal to the returns that we get on our other streams of revenue."

First Published: Feb 17, 2006 01:01 IST