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ICYMI: India’s Entrepreneurs Consider Leaving for Greener IP Pastures
By Ashley Mergen
New Delhi, we have a problem. Shunning sound IP policies that would attract world-class multinational corporations or foreign investors is one thing. Doing the same at the expense of home-grown innovators and creators is another. Turns out, among onerous regulations, a spate of anti-patent court decisions, and lax IP enforcement, India is having troubles with both.
Last week’s Economic Times piece throws the curtain back on a concern shared by some local Indian tech startups, which have a fighting chance at success… if they go elsewhere. Looking to Hong Kong, Singapore, and the U.S., “People are not just leaving. They are leaving with multimillion-dollar ideas,” according Mahendra Swarupto of the Indian Venture Capital Association.
This really shouldn’t come as news. As evidenced in the GIPC International IP Index earlier this year, strong IP protections serve the needs of domestic innovators, especially to continue growth in emerging markets.
And other emerging economies are taking this seriously. Just recently in a first for the countries, Egypt and Tunisia adopted IP rights in their newly minted constitutions, recognizing the link between IP and prosperity. India could be well-served if it took a page from some of its counterparts and respected the IP rights of local talent as well as multinationals.
Please visit the Economic Times to read the full article “Hurdles in business growth forcing entrepreneurs to mass exodus.”