Thirst for Innovation in Niche Technology

Abstract

Innovation has become imperative rather than a choice for business survival. Organization's needs to keep themselves abreast with the current trends & demands to stimulate creativity and to keep the innovation function afloat, but that is easier said than done. Embracing innovation to keep up with the pace of change in this dynamic world of business is difficult. Entrepreneurs are surging forward armed with a wealth of creative and innovative ideas transforming it into competitive products and services thus allowing entrepreneurs and their small business to acquire financial gains that, in turn, help improve the country's financial system This case study is a classic example of first-generation entrepreneur P N Mehta who left his cushy government service after bitten by the innovation bug. He later ventured in four sub-companies as a part of sequential innovation with the aid of three more co-founders catering to the need of customized information technology (Niche Technology) product and services for Indian cooperative dairy sector. The case also throws insights on the challenges of retaining monopoly considering the non-patentable nature of IT software solutions & the flourishing IT industry.