Establishing Multidisciplinary Innovation & Development Centre (MIDC) eco-system has its unique significance for Manipal University. MIDC will bring together various platforms with the help of industry partners and with educational institutes.
FOCUS on core competencies: companies that concentrate on their key strengths are better able to innovate around those strengths. This helps guarantee consistency between the company's portfolio of activities and the SL business and will make it easier to mainstream successful pro-poor business in the future.
Re-examine your product line or how its characteristics and your existing business models can be adapted to suit the distinctive requirements of lower market segments.
Focus on what the company does well and plan to partner with local actors, not-for-profit organizations and other companies that offer complementary expertise, skills, and resources.
PARTNER across sectors: governments and NGOs are increasingly interested in working with business. By involving development organizations that share similar goals, companies can benefit from on-the-ground expertise and additional resources. Likewise, thinking across sectors might lead to innovative partnerships involving companies from different industries, addressing a bundle of needs holistically.
LOCALIZE the value creation: companies operating in developing countries often lack the usual infrastructure and support systems market intelligence, manufacturing capabilities, or distribution channels. So they have much to gain from tapping into local networks and local knowledge.