Bengaluru, May 20, 2019: The Institution of Engineering and Technology India has signed a memorandum of understanding with KPMG and Innomantra to develop and conduct masterclasses on Design Thinking and Systematic Innovation for academia and technology leaders. The content and frameworks of the sessions has been created by KPMG and Innomantra; the IET using its world class framework endorses this programme and will co-certify it with KPMG and Innomantra. These 4 day masterclasses will be held in Bengaluru, Mumbai, Hyderabad, Pune, Chennai and Coimbatore.
With growing business needs and digital transformation across industries underway, design thinking and systematic innovation is changing the way industries function. By adopting design and systematic innovation thinking principles, businesses can develop low cost working prototypes for various needs and test them in real time, making businesses industry relevant. The collaboration is a result of analysing and understanding the need for academia and technology leaders to be able to address complex problems and transforming their cultures to become more innovative.
On inking the MoU Shekhar Sanyal, Director and Country Head, IET India said, “Design Thinking is at the core of all business process. How practitioners still struggle to integrate these design thinking principles is the way they operate. With IET’s remit of Engineering a better world, we are excited about this partnership with KPMG and Innomantra to bring you a masterclass that helps in doing just that.”
Ramesh Krishnamurthy, Director, Digital Advisory said, “The industry and the business model around them is undergoing disruption because of the changing needs of their customer. Organizations need to continuously design and innovate their offering to keep up pace with the customer perception. KPMG, as a knowledge partner to [IET], is excited about this collaboration as the master class is designed to help the industry practitioner be abreast with the changing needs of our users.
Lokesh Venkataswamy, CEO & Managing Director, Innomantra Consulting Private Limited said, "Innovation is the single biggest driver for growth, productivity and to aspire next. It is also true that many of the organizations that do innovate and have been successful at it, the challenge of making innovations repeatable. Developing real innovation capability requires an adequate, structured and new coherent approach. Innovating 'design thinking way' is a pathfinder for exponential possibilities with a designer's mindset in an Innovation Economy. The innovation lies in the cross-pollination of knowledge and experience IET, Innomantra, and KPMG's partners to bring thought leadership in Design thinking with a proven framework, and industry experience to unlock one's true potential to trigger innovation next.”
About The IET:
The IET is one of the world’s largest engineering institutions with over 168,000 members in 150 countries. It is also the most multidisciplinary – to reflect the increasingly diverse nature of engineering in the 21st century.
The IET office started operations in India in 2006, in Bangalore. Today, we have over 13,000 members and have the largest membership base for the IET outside of the UK.
Given the increasing global importance of India as an engineering hub* our aim is to make an impact that has relevance both locally and internationally. Our strategy is to make a meaningful impact on the overall competency and skill levels within the Indian engineering community and play an influencing role with industry in relation to technology innovation and solving problems of public importance.
We want to do this through working in partnership with industry, academia and government, focusing on the application of practical skills within both learning & career lifecycles, driving innovation and thought leadership through high impact sectors. Our volunteer led panels are means through which we deliver our strategy. The IET India IoT Panel was born out of this focus.
For more details, please visit www.theiet.in
KPMG in India is one of the leading providers of risk, financial and business advisory, tax and regulatory services, internal audit and corporate governance. KPMG was established in India in September 1993, and has rapidly built a significant competitive presence in the country. In India, KPMG has a client base of over 2700 companies. The firm's global approach to service delivery helps provide value-added services to clients. The firm serves leading information technology companies and has a strong presence in the financial services sector in India while serving a number of market leaders in other industry segments. The differentiation is derived from a rapid performance-based, industry-tailored and technology-enabled business advisory services delivered by some of the leading talented professionals in the country.
Design thinking is a structured methodology used by designers to develop and deliver products, services and experiences that address latent human needs. KPMG in India’s design thinking practice equips individuals and organizations with the methodology and tools of design thinking. It helps solve wicked/complex problems, facilitate understanding of the design thinking mind-set and drive application of core concepts i.e. empathy, ideation, prototyping and storytelling.
Innomantra is a leading Digital, Innovation, and Intellectual property management consulting and services firm. It helps organizations to design and achieve their digital strategy from idea to implementation, innovation and Intellectual property goals by enhancing culture for amplified efficiency and exponential growth.Innovation3x describes the philosophy which it believes in, that innovative organizations must identify innovation goals that seek to achieve a 3x and beyond to boost in their performance. Innomantra's signature three-fold approach to innovation that looks at overall business strategy, people and functional systems in a digital ecosystem is globally recognized.
Innomantra has a wide range of 50+ clients range from small and medium business to Fortune Global 500 organizations. It has a strategic alliance with global leaders in Digital and Innovation. Innomantra is headquartered in Bengaluru, India, and has a global presence in Colombo, Chicago. Hongkong, since 2010.